Turkish Lira experience sharp drop against major foreign currencies

The sharp decline suffered by the Turkish Lira against foreign currencies continued into Thursday.

The Turkish Lira has lost about 5 percent of it's value in the last two days dropping to 7.29 against the Dollar, 8.67 against the Euro and 9.64 against the British Pounds as at Thursday.

On Wednesday, the Dollar saw an upward trend against the Turkish Lira ending the day at 7.0474, a 2,1 percent drop in value compared to the previous day.

Earlier on Thursday, the Turkish Lira started the day, trading at 7.1004 against the Dollar which was caused by panic over second wave in global stock markets.

The Turkish Lira also reached a low against the Euro with a 0.11 percent decrease and starting the day at 7.4450 Lira.

Against the British Pound, Turkish Lira saw a sharp drop in value of about 1.21 percent and traded at 9.3627 on Thursday.