The lira also declined after data that revealed that the annual inflation rate is close to 12%, despite the moves of the Turkish Central Bank to tighten monetary policy.
The lira, the worst performing currency in emerging markets since the beginning of this year, fell 0.5 percent to 8.4850 pounds against the dollar, compared with 8.4400 pounds to the dollar at Monday’s close.
The Turkish currency has fallen 30 percent since the beginning of the year, due to concerns about possible Western sanctions on Turkey, depletion of reserves, and double-digit inflation.
Analysts say that relations between Washington and Ankara may witness more tension if the Democratic candidate, Joe Biden, wins the US presidential election.
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