Untitled

ISTANBUL - The Turkish currency weakened further against the US dollar Monday, falling to its lowest level since November 2004.
The lira dropped to 1.463 against the greenback in early trading, a fall of 4.3 percent for the day and 7.3 percent down since last Thursday, though it clawed back some of the losses to sit at 1.450 by noon.
The slump has mainly been attributed to the exodus of foreign capital from the Turkish market due to concerns over the country's rising current account deficit and an increase in inflation.
Monday also saw shares on the Istanbul Stock Exchange drop five percent in morning trading, down to 39,838.10, coming on the back of a four percent fall on Friday. This is just above the year's lowest point of 39,398.86.