Turkey’s lira weakened the most among major world currencies yesterday, falling as much as 1.6 percent to a new record, as the killer of 39 people at an Istanbul nightclub remained at large and inflation accelerated more than estimates in December.
The lira depreciated to a record 3.60 against the dollar as of 1:05pm in Istanbul, bringing its decline over the past 12 months to 19 percent.
The annual inflation rate was 8.53 percent last month, above all estimates and more than 3.5 percentage points above the central bank’s target, Turkey’s official statistics agency said earlier in the day.
