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Turkish lira slump continues as foreign tensions simmer

The Turkish lira continued record losses Tuesday against major currencies as analysts questioned Central Bank independence and Ankara saw political spats deepen with foreign allies.
A woman walks past an information screen displaying rates in front of an exchange office in Istanbul, on October 26, 2020 as Turkey's lira set a new record low against the US dollar. - Turkey's lira was trading at 8.03 against the dollar at around 0730 GMT, suffering a loss of nearly one percent since the beginning of the day. The Turkish currency also recorded its lowest level against the euro, trading near 9.52. (Photo by Yasin AKGUL / AFP) (Photo by YASIN AKGUL/AFP via Getty Images)

ISTANBUL — Turkey’s currency extended losses for a fourth day as growing political spats with NATO allies added to fallout over an unexpected Central Bank decision to hold interest rates steady last week.

At 6 p.m. Istanbul time Tuesday, the Turkish lira was trading at record lows of about 8.20 per US dollar and 9.70 per euro, continuing the currency’s longest rout since 1999.

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