The Turkish lira is falling before the central bank meeting

The Turkish lira fell by 0.5% Thursday, May 26, to 16.45 against the dollar, touching its weakest level since December, before a meeting of the Central Bank is expected to keep the benchmark interest rate at 14%.

The lira has fallen about 20% this year, in addition to losing 44% of its value last year, largely due to a currency crisis triggered by a series of interest rate cuts.