Turkish lira currency hit a record low against the U.S. dollar on Wednesday after ratings agency S&P lowered its sovereign credit outlook to "negative" from "stable", saying the polarization of politics had further eroded checks and balances.
S&P also said investors could expect a period of heightened unpredictability that could constrain capital inflows into the economy following last weekend's failed military coup in Turkey, - CNBC reports.
The lira fell as far as 3.0769 against the greenback, surpassing a previous low of 3.0750 set on September 2015.