Turkish Lira Slips to New Record Low

The Turkish lira dropped by 0.5 percent, sinking to a new record low against the US dollar on Monday, continuing its losses since the May elections following the Eid al-Adha holiday in Turkey last week. The lira fell to 26.11 lira per dollar from a closing price of 25.969 last week. The value of the currency has decreased by more than 28 percent this year, significantly after the re-election of President Recep Tayyip Erdoğan in late May.