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International

Turkey's lira slides to fresh record low against dollar

Published Fri, Jan 30, 2015 · 11:10 AM
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[TURKEY] The Turkish lira tumbled to a fresh record low against the dollar on Friday after a surprise Russian central bank rate cut triggered emerging market currency selling, adding to pressure generated by an expected Turkish interest rate cut.

The lira weakened as far as 2.4265 from 2.4036 late on Thursday, having been hit since the Turkish central bank governor indicated on Tuesday it could hold an extraordinary monetary policy committee meeting as early as next Wednesday to cut rates.

REUTERS

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