Lira among biggest losers against dollar

The lira has been the third-biggest loser in value against the US dollar since the beginning of this year, a recent report from investment management firm BlackRock has said.
The Brazilian real and the New Zealand dollar took the top two spots on the list, losing 16 and 15 percent of their value, respectively, against the dollar this year. The lira saw a drop of 13 percent in its value against the American currency. The Danish kroner and the euro took fourth and fifth spots on the list of poor performers against the dollar, which has strengthened in value considerably thus far in 2015. The dollar reached an 11-year high against the euro earlier this year, which currently stands at 1.1 to the dollar. The lira has plunged to record lows on multiple occasions this year. Already one of the worst performing emerging market currencies, the lira came closer to its all-time low against the greenback amid turmoil on Monday. The lira hit its lowest level — 2.8094 — on June 8, a day after the latest parliamentary election that ended the 13-year single-party rule of the Justice and Development Party (AK Party).