October 4, 2018 / 8:45 AM / 13 days ago

Turkey's lira weakens after September inflation, dollar rally

ISTANBUL, Oct 4 (Reuters) - Turkey’s lira weakened more than 2 percent on Thursday, a day after data showed that annual inflation had hit nearly 25 percent in September, vastly exceeding expectations, and as the dollar held at a six-week high.

The lira weakened to 6.2025 by 0839 GMT, compared to Wednesday’s close of 6.0500.

The currency has lost around 40 percent of its value this year on concerns over President Tayyip Erdogan’s grip on monetary policy and a diplomatic row between Ankara and Washington. (Reporting by Behiye Selin Taner Writing by Ali Kucukgocmen; Editing by David Dolan)

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