Turkey’s currency, the lira, hit an all-time low of 3.7790 against the U.S. dollar in early trade on Tuesday, breaking previous record lows plumbed during Monday’s session.
The currency, which lost 17 percent against the U.S. dollar during 2016 to claim the title of the second-worst performing emerging market (EM) currency for the year after the Argentine peso, saw its woes increase further following the publication of a critical note from credit rating agency Moody’s on Monday.
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