Türkiye's lira hit a new low against the dollar after President Recep Tayyip Erdoğan's victory in the country’s election over the weekend, EDnews reports citing Financial Times.
The lira weakened to 20.24. The lira has slumped more than 7 per cent so far this year.
Morgan Stanley analysts said Türkiye's currency risked falling further “without a change in the macro policy framework to prioritise disinflation and to adopt market-friendly policies”.