Turkish lira marks new low after 36% drop this year – Markets

ISTANBUL: The Turkish lira weakened to a record low of 29.4 against the dollar on Wednesday, bringing its losses in 2023 to 36% and sustaining a slow and steady decline in the latter part of the year.

The lira was 0.2% weaker at 29.3985 against the dollar at 1142 GMT after touching the all-time low of 29.40.

Turkiye hikes rates by 250 pts to 42.5% with end in sight

The government has…