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Unemployment in Turkey in May fell to the lowest in nine years


July, 10 2023
watermark Economic news

According to official statistics, the unemployment rate in Turkey fell to 9.5% in May, which is the lowest value since 2014.


The number of unemployed amounted to 3.33 million people with a total of 31.72 million employed.


It was also announced that inflation in Turkey in June continues to slow down and reached 38.2% in annual terms, which is the lowest since December 2021.


Recall that the Central Bank of Turkey last month raised its key interest rate for the first time in two years. The rate on seven-day REPO transactions was increased by 6.5 percentage points and amounted to 15%.


The exchange rate of the Turkish lira against the dollar is currently increasing by 0.2% and amounts to 26.1029 lira per dollar, being close to the historical record.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.