ANKARA, April 11 (Xinhua) -- Turkish lira hit a new record low against the U.S. dollar on Wednesday amid investors' negative outlook for the country's monetary policy and inflation.
Turkish lira, which has been performing poorly since this year, plunged to an all-time low of 4.1934 against the dollar on Wednesday, a loss of 8.5 percent in value this year, according to Bloomberg data.
The dramatic fall came just after U.S. President Donald Trump warned to launch a missile strike on the Assad government, which brought uncertainty to the regional situation.
The rate of lira was also negatively affected by the earlier 3 percent sharp fall of Russian rouble, as Russia is Turkey's major trading partner and a fellow emerging market heavyweight.
Meanwhile, Turkey's Borsa Istanbul (BIST) 100 Index fell 4 percent to 106,624 points. The index later recovered to 107,700 points, registering a 2.7-percent daily loss.
