Pressure on Turkish lira continues

ANKARA - The Turkish lira has dropped to a record low against the dollar. 

The lira fell to 2.4952 against the greenback on Monday.

The Turkish currency has lost more than 3 percent since reaching 2.4174 against the dollar in mid-December.

"Global investors think the Fed is likely to raise rates in June, so the lira, like all emerging market currencies, is going to remain under pressure," commented Attila Yesilada, an analyst with Global Source Partners in Istanbul.

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