Turkey lira touches new record low after Turkish President comments

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The lira has been at the heart of the storm, slipped toward 4.5 to the dollar.

Turkey’s embattled currency the lira on Wednesday hit new historic lows against the dollar after President Recep Tayyip Erdogan said that he wanted a bigger say in monetary policy.

The lira has lost nine percent in value over the last month alone as Turkey heads to snap presidential and parliamentary elections on June 24.

Over the past several weeks, the Turkish lira has repeatedly renewed its historic low against the US dollar and the euro, weakening by about 14 percent against world’s major currencies.

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