The Turkish Lira is under pressure due to deterioration in relationship with the United States.
Uncertainties in Turkey which is adversely impacting it’s currency also impacted financial markets in India with the rupee plunging to all time low of 69.62 a dollar and the Sensex tumbling over 250 points.

The Turkish Lira came under pressure following challenges faced by the economy but more importantly due to its deteriorating relationship with the United States.

Currency dealers said the sharp volatility in the rupee may have prompted the commercial banks to sell dollars on behalf of RBI which helped the domestic unit trim some losses which was trading at 69.53 at 10.32 a.m.