Last Monday, the Turkish lira exchange rate against the dollar fell to an all-time low. 

The low was recorded in the afternoon when the pound fell to 9,315 against the green currency. This is a devaluation of about 20% since the beginning of the year, with 10% of the decline coming from the beginning of September. 

The decline comes as a result of an estimate in the market that the central bank, under pressure from President Erdogan, will announce a rate cut later in the week. The fear in the market is that lowering interest rates will now accelerate the inflation rate, which already stands at 20%.