BUSINESS HEADİNG

Turkish Lira hits new historic low against dollar

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Times Of Turkey Lira dropped to 3.068 level against U.S. currency as expectations of interest rate hike from Fed pressure emerging economies

The Turkish lira dropped to a new historic low against the dollar during late-morning trading on Monday.

The Turkish lira dropped to about 3.068 per dollar in late-morning trading. The lira has since come back to about 3.059.

The Turkish lira is reacting to the rising expectations for a Fed rate hike on Sept. 17. The lira has been subject to the same kind of pressure  as other emerging market currencies.

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