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Turkish Lira Plunges Most Worldwide to Record Low Per Dollar

  • Deteriorating economic data compounds rising terrorism concern
  • Nomura sees currency weakening past 4.00 in the first half
Bloomberg business news

What's in Store for Turkey in 2017?

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Turkey’s lira weakened the most among major world currencies on Tuesday, falling as much as 1.7 percent to a new record, as the killer of 39 people at an Istanbul nightclub remained at large and inflation accelerated more than estimates in December.

The lira depreciated to a record 3.6042 against the dollar before trading 1.5 percent lower at 3.5969 as of 6:19 p.m. in Istanbul, bringing its decline over the past 12 months to 19 percent. The annual inflation rate was 8.53 percent last month, above all estimates and more than 3.5 percentage points above the central bank’s target, Turkey’s official statistics agency said earlier in the day.