Turkish Lira Hits Record Lows

Turkish lira has plunged to record lows against the dollar on Monday, along with other emerging-market currencies as hopes for massive fiscal stimulus pushed the U.S. dollar to 12-month high. On Monday, the dollar was trading at TRY3.2924, up 1.2%. The iShares MSCI Turkey ETF has also been sold heavily after the election of Donald Trump as U.S. president last week. The ETF fell 2.4% on Monday and lost 8.2% since Nov 8.