The Turkish lira hit a record low before the interest rate decision

The Turkish lira fell more than 2 percent, hitting a new record low against the dollar on Tuesday, amid fears that the Federal Reserve (the US central bank) will raise interest rates this week less than previously expected.

The Turkish lira recorded a record low of 26.9 against the dollar, down from the level of 26.3505, which it recorded when closing transactions on Monday.

The Turkish lira has fallen 30 percent since the beginning of this year.