The Turkish lira is the worlds cheapest currency, Deutsche Bank strategist George Saravelos said, according to Dnya newspaper.
Saravelos pointed out that the lira was even less expensive after losing 3 percent of its value so far this year, Dnya said.
The lira lost 28 percent against the dollar in 2018 as a currency crisis ripped through the countrys financial markets, causing the economy to contract by 1.1 percent on a quarterly basis in the three months to September. It fell 1.3 percent to 5.48 per dollar at 7:03 p.m. in Istanbul.
The Chinese yuan is the worlds most expensive currency after it reached a six-month high against the dollar on Friday, Saravelos said.
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