Turkish Lira Slips To Another Low Against Dollar

The Turkish lira dipped to a new record low against the dollar at 18: 24 p.m. (1624GMT) Tuesday.



On Tuesday, the Turkish lira slid all day against the U.S. currency, reaching a new record low at 2.54 after the market closed.



The U.S. dollar has been rising due to the country's economy's growth progressing and an expected rate hike by the Federal Reserve in 2015.



The dollar index rose to 95.53 on Tuesday, the highest level seen since 2003, but it returned to 95.305 in the afternoon.



In the past year, the dollar's value has gained more than 17 percent against the euro, more than 13.5 percent against the Japanese yen and more than 30 percent against Turkish lira.



Economists expect a lower unemployment rate in February as the U.S. labor department will make the announcement on Friday. This means the dollar may soon increase once again.



www.aa.com.tr/en - Ankara