Markets

Turkish lira weakens to record low of 3.6495 against dollar

ISTANBUL: The Turkish lira weakened to a record low of 3.

Published January 9, 2017 Updated January 9, 2017 07:08am

1 min

By Parvez Jabri

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ISTANBUL: The Turkish lira weakened to a record low of 3.6495 against the dollar on Monday as the US currency strengthened after payrolls data showed strong underlying wage growth, boosting the case for more rate increases in 2017.

At 0522 GMT the lira, which has also been hit by domestic political, security and economic concerns, stood at 3.6481 against the dollar, compared with a close of 3.6470 on Friday.

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