Turkiye lira hits fresh record low against dollar

ISTANBUL: Turkiye lira touched a new all-time low of 33.0450 to the US dollar on Friday, despite a period of relative stability in recent months that came after years of declines.

The currency was some 0.5% weaker at 32.9945 at 0656 GMT, weaker than its close on Thursday but firmer than the record low it hit earlier in the morning.

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The currency has shed more than 11% to the greenback so far this year, and more than 40% since the start of 2023.