Turkey's lira weakened on Monday to equal its record low level of 8.9750 against the dollar, which it set on Friday, weighed down by strength in the greenback as well lingering concerns over Turkish monetary policy.

Last month the central bank unexpectedly cut its policy rate by 100 basis points to 18%.

At 1000 GMT, the lira stood at 8.9650 against the U.S. currency, edging back from the record level. It has weakened 17% against the dollar so far this year.