Turkish Lira Slides 4 Percent Against Dollar

  • Economics
Turkish Lira Slides 4 Percent Against Dollar

The Turkish lira weakened 4 percent against the dollar on Friday as investors fretted about a U.S warning that Turkey should expect more economic sanctions unless it hands over detained American pastor Andrew Brunson.

The lira weakened as far as 6.0600, bringing its losses against the dollar this year to 37 percent as worsening relations between the NATO allies added to losses driven by concerns over President Tayyip Erdogan’s influence over monetary policy.

Source: Reuters