The Turkish Lira hit a fresh low record on January 3.
The Turkish lira traded almost at 3.6 per dollar, (4.45 UK£), down 1.4%, after sharp rises in food and drink prices pushed Turkish inflation to 1.64% in December for an annualised 8.53%.
That further soured sentiment towards Turkish assets, already battered by a series of terror attacks in recent months, including a New Year’s Day mass shooting.
Concerns about a slowdown in the economy and plans for an executive presidency have also undermined confidence. The security situation also makes it unlikely that tourism, a key part of the economy, will recover in 2017.