Dollar Hits New Record Levels Against Lira

Us dollar rose to new record level against lira at 2.6804, fuelled by interes rate hike expectations from the US Federal Reserve (Fed) and rising uncertainities in Turkey, towards the general elections in June 7.

Fed is expected to raise interest rates from their historic lows in the coming months, probably in June, according to analysts, however, the lira has recently been one of the worst performers in emerging markets, ahead of the upcoming June general elections.

Turkish stocks were also hit by soaring dollar, which fell by more than 1.0 percent in the morning session, pulling the Borsa Istanbul Indexs to 80,797 points. - Istanbul