Turkey’s lira hits a record low against US dollar amid possible American sanctions

ATMs in Turkey [Photo: Internet]
Turkey’s lira has weakened to a new record low against the dollar after a media report indicated that the US could be laying the groundwork for possible sanctions amid a diplomatic row between the two countries.

The lira extended its fall to touch a new record of 5.00 against the dollar on Wednesday, according to Thomson Reuters data.

The fall comes after Bloomberg reported that the US has drawn up a list of entities and people to target if it moves to fulfil US President Donald Trump’s threat to aim “large sanctions” at Turkey over its prosecution of an American pastor.

A state department official confirmed to the FT that Magnitsky Act sanctions “were being looked into” for Turkey.

Have your say. Give us your feedback.
Sign up for our Newsletter.

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept