Turkish lira weakens to 17.20 against dollar

Update on Turkish lira

The Turkish lira slid to 17.20 against the dollar on Thursday, slipping for the fourth consecutive session towards the record weakest levels it hit in December after a series of unorthodox interest rate cuts, Qazet.az reports.

The lira stood at 17.1975 at 0527 GMT slightly weaker compared with Wednesday's close of 17.17. It has lost 23% of its value against the U.S. currency this year after a slide of 44% last year.