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The Turkish lira is falling to a new record high

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The Turkish lira is falling to a new record high

Post by RamblerNash on Thu Aug 09, 2018 9:59 pm

The Turkish lira is falling to a new record high

09-08-2018 02:58 PM

The Euphrates -

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 members.

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 that President Recep Tayyip Erdogan will tighten his grip on monetary policy as well as the growing row between Turkey and the United States in recent times.

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

The dispute between the two countries is mainly due to the continued detention and trial of American priest Andrew Brunson on terrorism charges in western Turkey


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