The Turkiye lira hit a new record low beyond 30 to the dollar on Thursday after losing more than a third of its value last year and more than 80% in the last five years, battered by a series of past interest rate cuts in the face of soaring inflation. The lira was 0.2% weaker at 30.01 at 0845 GMT after touching an historic low of 30.015. So far this year it has shed 1.6%, even as analysts say its prospects have brightened due to an economic policy U-turn. The currency is “still (a) key battle for (Finance Minister Mehmet) Simsek et al, and (a) test of the success of stabilisation,” said Timothy Ash, senior sovereign ... (full story)