ISTANBUL: Turkey's lira slipped to its weakest against the US dollar since mid-May in overseas trade late on Monday.

The currency, which hit a record low of 7.2690 in May, stood at 6.90 against the dollar at 1732 GMT, more than 0.7% weaker when compared to Friday's close.

It touched as far as 6.9850 against the greenback in illiquid trade.

The lira also approached a record low against the euro on Monday, bringing its losses to about 7% against the common currency in two months even as it has virtually flat-lined against the US currency.