Turkish Lira’s Slow Burn Continues With Another Record Low

Turkey’s lira fell to a record low, extending its slow decline amid expectations the authorities will allow it to keep weakening as long as does so less than the rate of inflation.

The lira slipped as much as 0.2% to 41.9509 per dollar early on Friday, before trimming declines to trade at 41.9503 as of 12:55 p.m. in Istanbul. The currency, which has slumped 16% this year, is heading for a 15th week of losses.