ISTANBUL: The Turkish lira hovered near its five-month lows on Monday as expectations of a policy shift from the U.S. Federal Reserve this week hampered appetite for riskier assets.
Shares in participation bank Bank Asya fell 20 percent to 0.99 lira, its lowest in five and a half years, as trading resumed after a suspension of more than a month due to uncertainty regarding its ownership.
The lira fell below 2.22 against the dollar earlier on Monday and traded at 2.2133 against the dollar by 1442 GMT, from 2.2135 late on Friday. It has declined since last week as the dollar rises against major currencies while investors position for a slightly more hawkish shift from the Fed this week.
Turkey is susceptible to global liquidity conditions due to its large current account deficit.
The main share index rose 0.12 percent to 77,918.10, compared with a 0.65 percent drop in the emerging markets index.
The benchmark 10-year government bond yield fell to 9.27 percent from a previous close of 9.30 percent.
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