ISTANBUL, Aug 25 (Reuters) - Turkish lira weakened 2.8% on Friday, shedding some of the gains recorded following the central bank's large rate hike a day earlier.
The lira stood at 26.51 against the dollar at 0736 GMT, 2.8% weaker than Thursday's close of 25.75.
It also hit its record low level of 27.2350 shortly before Thursday's decision. A Reuters poll median showed the market was expecting the central bank to hike the benchmark rate by 200 basis points.
Turkish central bank hiked its policy rate by 750 basis points, far more than expected on Thursday, in order to ensure fall in inflation and anchor inflation expectations as soon as possible. (Reporting by Ezgi Erkoyun; Editing by Toby Chopra)
