Turkish lira traded nearly flat against US dollar on Thursday ahead of a central bank policy setting meeting where it is expected to lower benchmark rate by 50 basis points.

The lira stood at 6.7890 against the dollar at 0518 GMT, trading slightly firmer to its close on Wednesday.

The lira has lost more than 12% of its value this year due to the impact of the coronavirus and concerns over Turkey's depleted currency reserves and foreign financing needs.