Turkey’s lira hits its weakest level against dollar since August flash crash

Turkey’s lira hit its weakest level against the dollar since an August flash crash on Thursday as investors fretted about tensions with the United States over Turkey’s purchase of Russian defence systems and its incursion in Syria.

The lira weakened as far as 5.9410 against the U.S. currency, bringing its losses so far this year to 11 percent. On August 26, the lira hit 6.47 in a flash crash in Asian trade. Excluding that, it last stood at these levels at the end of May.

Source: Reuters