ANKARA
The Turkish lira dropped to a new historic low against the dollar during late-morning trading on Monday.
The Turkish lira dropped to about 3.068 per dollar in late-morning trading. The lira has since come back to about 3.059.
The Turkish lira is reacting to the rising expectations for a Fed rate hike on Sept. 17. The lira has been subject to the same kind of pressure as other emerging market currencies.
