Markets

Turkish lira tumbles to near two-month low against the dollar

Published December 11, 2015 Updated December 11, 2015 11:57am

1 min

By Zulqarnain Ali

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ISTANBUL: The Turkish lira hit its lowest in nearly two months against the dollar on Friday, dragged down by investor jitters ahead of a key US Federal Reserve meeting next week, in which it is widely expected to hike interest rates for the first time in a decade.

The lira fell sharply to 2.9488, its lowest since October 14 and was at 2.9430 by 0858 GMT, from around 2.92 earlier in the day.

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