Turkish Lira Devaluation. The Turkisk lira (TL) 2001 during a severe political and economic crisis. The Turkish government announced on lira would be devalued by 20%. The spot exchange rate on February 20th was TL66,000/ $ was officially devalued by the Turkish government in February February 21st that the a. What was the exchange rate after devaluation? b. What was the percentage change after falling to TL99,000/$ on February 24, three days after the devaluation