Turkish Lira Reaches Unprecedented Low

The Turkish lira touched a new low, reaching 26.10 against the dollar early Tuesday, during hours of reduced liquidity, after an official and bankers stated that the central bank had stopped using its reserves to support the currency. The lira slightly increased later by 04:37 GMT, recording 26.05, showing little change from its Monday closing level. The lira has fallen by more than 28 percent since the beginning of the year.