Turkish lira weakens 3% as markets reopen

Istanbul: The Turkish lira slid 3 per cent against the dollar on Monday as local markets resumed trading after a weeklong holiday and investors focused again on a bitter dispute between Ankara and Washington over an American pastor being tried in Turkey.

With the dollar stronger globally, the lira weakened as far as 6.19 from a close of 6pm on Friday. It has lost nearly 39 per cent of its value against the US currency this year.