Turkish lira hits record low to US dollar

Political uncertainty and imminent Fed rate hike puts pressure on Turkish currency

Turkish lira hits record low to US dollar

World Bulletin / News Desk

The Turkish lira fell to a record low of 3.0031 against the dollar in early-morning trading on Thursday.

Political uncertainty in Turkey combined with trader expectations of an imminent interest-rate increase by the Federal Reserve combined to push the currency to a new low.

Emerging-market currencies have, in general, lost close to 30 percent of their value against the dollar since Jan. 1.

Güncelleme Tarihi: 20 Ağustos 2015, 09:04
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