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FinancialNews
02-08-18
Turkish lira hits 5.0 record low against US dollar
(MENAFN) The Turkish currency was unveiled to have hit a 5.0 record low against the US dollar, as the United States slapped two Turkish government ministers with sanctions over the arrest of an American pastor.
The Turkish lira has suffered losses of more than 1.6 percent of its value against the dollar, breaking the line of 5.0 against dollar for the first time ever.
It comes after the US Department of Treasury imposed sanctions against Turkey's justice and interior minister for their part in the arrest of US pastor Andrew Brunson.
Turkey's lira has lost over a fifth of its value against the dollar and the euro since the beginning of 2018, as a comprehensive result of recorded inflation and diplomatic rows with the west.
MENAFN0208201800450000ID1097235039
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