Turkish lira hits record lows amid piling political crisis

Photo: Turkish lira hits record lows amid piling political crisis / Turkey

The ongoing government and judiciary crisis have rattled markets, pushing the lira to a fresh record low of 2.1750 against the U.S. dollar, sending the stock market plummeting to its lowest in 17 months, while the Euro reached an all-time high by passing 3 liras for the first time Hurriyet Daily News reported

The currency also weakened the historical record low level of 2.58 against the dollar/euro basket.

The country's main index, BIST 100, fell over four percent since the beginning of the day, being traded at around 61,900 points as of 11.45 a.m.

The index plunged to 61,620 in the morning, seeing its lowest level since July 2012.

The financial markets, which have been shaken along with mounting political tension over the corruption investigation, cannot manage to pick up in the absence of concrete intervention from the Central Bank.

The latest nail in the coffin, the head prosecutor in a new corruption case said the investigation files have been "taken from his hands" after he gave instructions for the arrest of suspects, while blasting the judicial institution for obstructing the probe

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