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Bitcoin Price Reaches Record High in Turkey as Lira Falls to Fresh Low

The Turkish Lira has hit a new low against the US dollar ahead of an upcoming central bank rate decision. This has resulted in Bitcoin reaching an all-time high against the local currency.

The Lira has lost approximately 30% of its value against the greenback since the start of the year, and Turkey's central bank is expected to raise its policy rate by 500 basis points to 20% in an effort to curb inflation.

The declining value of the Lira has pushed the price of Bitcoin to new highs on local exchanges, with BTC prices at 820,600 Lira on Turkey's largest exchange, Paribu.

Bitcoin Bitcoin $98,160.93
-0.03%
Bitcoin Inflation
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