Turkish lira hits fresh record low

The Turkish lira weakened more than 2% to a fresh record low against the dollar on July 18 over market concerns that the central bank might raise interest rates this week by less than previously expected.

The lira hit a record low of 26.9 against the U.S. currency, sliding from Monday's close of 26.3505. It has weakened 30% so far this year.

The central bank will announce its rate decision at 11:00 GMT on July 20.