Turkish currency falls against USD after new rate hike

ISTANBUL, Dec. 21 (Xinhua) -- Turkish currency lira fell further against the U.S. dollar on Thursday after the central bank hiked its policy rate by 250 basis points to 42.5 percent.

The exchange rate of one dollar and one euro stood at 29.16 liras and 32.13 liras, respectively, hours after the rate hike, which was delivered as part of the country's efforts to tame the persistent inflation.

According to t