Turkey Lira Loses 5% against Dollar, Hits Record Low

W300

Turkey's embattled lira on Friday hit new record lows against the US dollar, losing some five percent in value as strains with the United States showed no sign of easing and fears grew over the exposure of European banks.

The lira was trading at 5.85 to the dollar, a loss in value on the day of 5.5 percent. However it had rallied somewhat after earlier crashing some 12 percent through the 6.0 level for the first time in history, trading at one point above 6.2.