MORE: Turkish Lira Falls to New Low Against Dollar

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

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