The record beats the one set just the previous day when markets closed at 11.4 liras to the US dollar.
On 18 November, the Central Bank of Turkey had decided to reduce the interest rates from 16% to 15%. On Monday, Turkish President Recep Tayyip Erdogan again called for a reduction in the borrowing costs in a televised speech.
The Lira exchange rate began to drop in mid-October after the dismissal of three Central Bank`s senior officials by Erdogan, whose economic machinations are widely viewed as a major contributing factor to the currency's meltdown.