Turkish lira weakens to 4.0 against dollar as economy worries weigh

ISTANBUL: Turkey's lira briefly weakened to the psychologically important level of 4.0 to the US dollar on Wednesday, hit again by investor concerns about double-digit inflation and persistent worries about politics.

The lira briefly touched 4.0006, not far off the record low of 4.0375 touched last week. Inflation - which was at 10.26 percent in February after hitting 12.98 at the end of last year, the highest in more than a decade - remains one of the economy's most vexing problems.

Investors are looking ahead to March inflation data, due to be released next week.