Turkish lira hits weakest in 5 months after GDP growth less than expected

ISTANBUL: The Turkish lira hit its weakest level in more than five months on Wednesday, trading at 2.21 against the dollar, after economic growth came in slower than expected in the second quarter and the U.S. currency rose against major currencies.

Gross domestic product (GDP) in the second quarter expanded 2.1 percent year-on-year, according to official data, less than a Reuters poll forecast of 2.65 percent growth.

The main share index fell 0.77 percent to 79,459.26, compared with a 1.11 percent drop in the emerging markets index. The benchmark 10-year government bond yield rose to 9.23 percent from a previous close of 9.16 percent.