The Turkish lira is hovering near its lowest level

The Turkish lira fell by 0.8% against the dollar on Friday, as investors continued to fear low interest rates and high inflation, which pushed the lira towards a record low it reached last week.
After it plunged to 13.9095, the lira settled at 13.8750 against the US currency at 0625 GMT. The Turkish currency has lost 46% of its value against its US counterpart this year, hitting an all-time low of 14.0 last week.

Turkey’s new Finance and Treasury Minister Nureddin Nabati said on Thursday that the budget deficit would be less than 3.5 percent of gross domestic product this year.

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