Turkey's lira weakens to fresh record low against dollar

The Turkish lira slipped to a new record low against the dollar early on Monday, touching a level of 23.77 as investors waited for indications on policy moves after the appointment of a new central bank governor expected to raise rates.

The lira was 1.1% weaker at 23.6 against the dollar at 0418 GMT, having hit the record low overnight.

President Tayyip Erdogan on Friday appointed Hafize Gaye Erkan, a finance executive in the United States, to head the central bank, which is widely expected to reverse course and tighten policy after years of rate cuts.