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The Minister of Science, Industry and Technology, Mustafa Varank, recently announced that they started a support program worth of 1.2 billion Turkish lira for industrial manufacturers and said that businesses could apply to the program until the end of December.

Reacting to these developments, the USD/TRY pair came under a heavy pressure and broke below the 6.50 mark. At the moment, the pair is down 6% at 6.47.