ANKARA: Turkey's lira firmed nearly 1% on Thursday to its strongest level since Aug. 21, as the U.S. dollar weakened to levels not seen in nearly three years.

The lira, which lost some 20% of its value last year, stood at 7.25 against the dollar at 0939 GMT, firming from Wednesday's close of 7.31. Earlier, it firmed as much as 7.24.

The dollar edged higher on Thursday, hovering above its lowest levels in nearly three years on Thursday after Democrats won control of the U.S. Senate, clearing the way for possible larger fiscal stimulus under President-elect Joe Biden.