May 18, 2018 / 4:05 PM / 10 months ago

Turkey's lira hits record low on surging dollar, policy worries

FILE PHOTO - A photo illustration taken in Istanbul shows a U.S. 100 dollar banknote against Turkish lira banknotes of various denominations January 7, 2014. REUTERS/Murad Sezer/Illustration/File Photo

ISTANBUL (Reuters) - Turkey’s struggling lira currency touched a record low against the dollar on Friday, hit by a surging greenback and chronic worries about President Tayyip Erdogan’s drive to influence monetary policy.

The lira TRYTOM=D3 hit a record low of 4.5038 against the dollar, bringing its losses this year to around 15 percent. It is one of the worst-performing emerging market currencies so far this year.

Reporting by David Dolan; Editing by Dominic Evans

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