Turkish currency dips against USD after fresh interest rate hike

ISTANBUL, Jan. 26 (Xinhua) -- The Turkish currency lira hit an all-time low against the U.S. dollar on Friday, one day after the central bank raised its key interest rate by 250 basis points to 45 percent.

After testing 30.64 liras, one dollar stood at 30.32 liras at 11:10 a.m. local time (0810 GMT).

During last June to December, the Turkish central bank aggressively raised interest rates from 8.5 percent