The Turkish Lira slid against the U.S. dollar on Nov. 8 amid a number of concerns which put pressures on the Turkish currency, including ongoing strains in Turkish-U.S. ties, Hüriyet Daily News reported.
The dollar rose to 3.9 against the lira in the noon of Nov. 8, making the lira the worst-hit emerging currency, although it eased slightly to 3.89 in the afternoon. The dollar saw record high levels in January, hitting 3.94.
On Nov. 8, the euro also hit an all-time high against the lira, rising to 4.52. The rise in both currencies also prompted a boost in gold, which hit 160.4 liras per gram.
The dollar/lira exchange rate declined to 3.82 at the beginning of the week following the resumption of visa applications on "a limited basis" between the U.S. and Turkey and a series of interventions by the Turkish Central Bank.
