Turkish lira hits fresh record low beyond 8.2 against dollar

Credit: REUTERS/Murad Sezer

ISTANBUL, Oct 28 (Reuters) - The Turkish lira weakened to a new record low against the dollar on Wednesday as investor unease grew over strains in Turkey's ties with its Western allies.

The lira TRYTOM=D3 hit an all-time low of 8.2025 against the U.S. currency in overnight trade and stood at 8.1970 at 0404 GMT. It closed at 8.1875 on Tuesday and has weakened 27% this year.

Strains in ties with the United States, a row with France, a dispute between Turkey and Greece over maritime rights and the conflict in Nagorno-Karabakh have all unsettled investors.

The central bank left its key rate at 10.25% last Thursday and raised its late liquidity window to 14.75%, saying significant tightening in financial conditions had already been achieved after steps to contain inflation risks.

(Reporting by Daren Butler; Editing by Kim Coghill)

((daren.butler@tr.com; +90-212-350 7053; Reuters Messaging: daren.butler.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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