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Direct: The Turkish lira lost about 1.5% against the US dollar on Monday as investors were cautious about emerging market currencies.
Turkey's local currency fell by 1.4% at the start of trade before reducing its losses a little later in a context of light financial transactions, which coincides with a holiday to mark Eid al- Adha in Turkey.
The Turkish lira lost its highest level in four months, recorded last Thursday at 5.4515 lire per dollar, the highest level since April.
The Turkish currency has increased recently despite the dismissal of the governor of the central bank last month and the risk of US sanctions for the purchase of Russian missiles.
The Turkish central bank has decided to cut interest rates by 425 basis points (4.25%) over the past week, far exceeding market expectations for a rate of 19.75%.
Last week, official data from the central bank revealed that the current account of Turkey recorded a surplus in the 12 months ending in June for the first time since 2002.
The current account surplus in June was $ 538 million on an annual basis.
The current account posted a monthly deficit of $ 548 million in June, higher than the forecast of $ 265 million badysts.
At 14:58 GMT, the Turkish lira lost 1.1% against the US dollar, bringing the greenback to 5,542 pounds.
Direct (economy)
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