Turkish lira falls to new record high against the dollar! – Al Marsad

The Turkish lira fell to a new record against the US dollar on Thursday, falling 2.5 percent from Wednesday’s closing level after a Turkish delegation met with US officials to try to resolve differences between the two NATO allies.

At 0730 GMT, the Turkish currency hit 5.4150 lira to the dollar after hitting a record low of 5.44 lira.

The lira has lost about a third of its value since the beginning of this year on fears of President Recep Tayyip Erdogan tightening his grip on monetary policy as well as the escalating row between Turkey and the United States in recent times.

In addition, a Turkish delegation met with officials from the US State Department and the Treasury on Wednesday, but there were no signs of a breakthrough after hours of talks.

Where the dispute between the two countries is mainly due to the continued detention and trial of American pastor Andrew Brunson on terrorism-related charges in western Turkey.

 

Source Reuters.