ANKARA
The Turkish lira slipped to a new record low against the dollar on Friday.
Starting the day at 2.5894, the Turkish lira sank to 2.6492 in late afternoon, hitting a new record low against the dollar.
The dollar has been exceptionally strong against a number of major currencies in the past few weeks. The U.S. dollar index, which measures the dollar against a basket of six major currencies, rose to 100.16 points, a height last seen in 2003, on Friday.
The currencies of many emerging economies, including the Chinese Yuan, the Brazilian Real, the South African Rand and the Indian Rupee saw similar declines against US dollar.
The Turkish lira has dropped almost 13 percent since the beginning of the year, second only to Brazilian Real, which has depreciated over 20 percent in same period.
