The Turkish lira reached its lowest value against the US dollar

The Turkish lira reached its lowest value against the US dollar on Thursday since the 2018 financial crisis.

On Thursday morning, the US dollar traded at 7 lira and 24 crores.

The Turkish currency has lost 17 percent of its value this year, according to Reuters.

Last year, the Turkish lira lost 40 percent of its value against the dollar, largely due to escalating political tensions with the United States in 2018.

For the past five years, the Turkish lira has always lost value. In 2015, each US dollar was worth 2.5 Turkish lira, and since then the value of the lira has risen by almost a third.

The devaluation of the lira is again due to reports of foreign currency injections by the central bank into the market to preserve the value of the lira and reduce the country's foreign exchange reserves. The country's currency is at a good level.