ISTANBUL: The Turkish lira touched a fresh record low on Wednesday and neared 8 versus the dollar, as tensions in the Eastern Mediterranean and the conflict in Nagorno-Karabakh continued to rattle investors and local savers.

At 0953 GMT, the lira was 0.4pc weaker at 7.9560, having touched an all-time low of 7.9600.

It has weakened more than 25pc this year, hit by concerns over depleted forex reserves and costly state interventions in the forex market.