Turkish lira weakens beyond 27 vs dollar for first time in 3 weeks

ISTANBUL: The Turkish lira weakened to beyond 27 against the dollar on Monday for the first time in more than three weeks, ahead of this week’s central bank meeting where it was expected to hike interest rates by 500 basis points.

The lira weakened as far as 27.015 to the U.S. currency by 0506 GMT. (Reporting by Can Sezer; Editing by Daren Butler)