Lira drops as much as 1.6% to 2.0693 per dollar, the lowest level since at least 1981, and trades 0.8% weaker at 2.0516 at 9:43am in Istanbul.
- Lira lost 9.5% against dollar in last 3 months in biggest decline among emerging markets in Europe, Africa and Middle East. It has weakened 13.1% this yr against dollar in biggest depreciation among major emerging markets in EMEA after South African rand
- Lira declines as much as 1.5% to 2.7698 against euro, a new record, and traded 0.8% lower at 2.7484 at 9:41am in Istanbul
- Volatility on lira for past 3 months little changed at 11.09%
- Lira will weaken to 2.09 against dollar in 4Q, according to currency forwards. It will be 2.0955 in December, currency futures traded in Istanbul show The rate is 49 for Polish zloty and 68 for South African rand