Turkish Lira Hits New Record Low Against US Dollar

The Turkish lira weakened to a record low against the dollar on Wednesday as concerns about the economic outlook continue, while investors await the decision of the Fed.

The Turkish currency touched record low 7.5020 and beyond this week, as Moody’s downgrade of Turkey’s credit rating to “B2” from “B1”. The lira has lost 21% of its value this year.