The worst currencies of the outgoing year, in a conversation with the Prime agency, were named by the head of the Otkritie Investments global research department Mikhail Shulgin.

The Cuban peso, Libyan dinar and Turkish lira are called outsider currencies, the expert said.

The Cuban peso has fallen in price against the US dollar by 96% over the year. Due to the COVID-19 pandemic and numerous US sanctions, the stagnation of the Cuban economy has only intensified this year, and the Caribbean state is also experiencing high inflation.

The Libyan dinar has fallen in price against the dollar by 71% over the year. Internal political processes negatively affect the Libyan economy.

The Turkish lira depreciated 49% against the dollar. According to Shulgin, this was due to Turkey's monetary policy, which continues to reduce the key rate amid high inflation.

Earlier, economist Anton Sklovets said that the likelihood that the economic situation in Turkey will negatively affect the currencies of other emerging markets, analysts still assess as low. They also discussed the Russian economy.

bbabo.Net