The Turkish lira dropped against the U.S. dollar in the European session on Thursday, after Turkey's Finance Minister Berat Albayrak remarked that the currency's free fall is likely to have limited impact on inflation.

In an interview with broadcaster CNN Turk on Wednesday, Albayrak said that Turkey's gross domestic product will show between 1 percent growth and 2 percent contraction this year.

"The exchange rate goes down, it goes up," Albayrak said. "What is important is not the exchange rate, but whether it is competitive".

The lira dipped to a record low of 7.3577 against the greenback from yesterday's closing value of 7.3254.

US Dollar vs TRY (FX:USDTRY)
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