The U.S. dollar hit a new record high against the Turkish lira at 3.0974 on Wednesday.
The rise in dollar was accelerated by Prime Minister Binali Yıldırım's announcement that the Justice and Development Party's (AK Party) proposal on the presidential system will soon be announced to the public, making the rate climb from 3.0810 early in the day to 30.974 in the afternoon.
The three-emonth extension of the post-July 15 coup attempt state of emergency approved on Tuesday, Moody's decision to downgrade Turkey's credit rate in late September and expectations of further interest rate cuts from Turkey's Central Bank (CBRT) were already pressuring the TL-dollar rate, negatively for the Turkish currency.
The previous record for the parity rate was reached on July 20 with 3.0970, right after Standard & Poor's decreased Turkey's credit rating due to the July 15 coup attempt.
The euro is currently being traded at a 3.4041 level.
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