Markets

Turkey's lira extends losses, weakens to 2.23 against dollar

Published September 18, 2014 Updated September 18, 2014 03:57pm

1 min

By Imad Uddin

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ISTANBUL: The Turkish lira weakened further on Thursday afternoon, hitting a new 5-1/2 month low as the U.S. Federal Reserve's outlook for rising rates stoked concerns that emerging assets may lose some of their yield appeal.

The lira eased as far as 2.2321 against the dollar by 1215 GMT, compared with 2.2073 late on Wednesday.

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