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, APA-Economics 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”.