Turkish lira hits record low ahead of economic programme

FILE PHOTO: A merchant counts Turkish lira banknotes at the Grand Bazaar in Istanbul, Turkey, March 29, 2019. REUTERS/Murad Sezer

ISTANBUL (Reuters) - Turkey’s lira touched a record low against the dollar on Tuesday as investors weighed the impact of the Caucasus conflict and awaited the new medium-term economic programme to be announced by Finance Minister Berat Albayrak.

The lira TRYTOM=D3 hit a record low of 7.8450 against the U.S. currency, weakening from a close of 7.81 on Monday. It is down some 24% this year on worries about Turkey's depleted forex reserves and negative real interest rates.

Albayrak is set to announce the economic programme at 0800 GMT.

Writing by Ezgi Erkoyun; Editing by Ece Toksabay and Daren Butler