Lira collapses to record low, how will this impact Turkish economy?

The Lira fell down to an all-time low of 13.45 against the US dollar on November 23rd and weakened as far as 13.15 on November 24th before moving slightly up to 13.05. 

source https://www.jagranjosh.com/current-affairs/lira-collapses-to-record-low-how-will-this-impact-turkish-economy-1637754685-1