Economy
Turkish lira weakens after sources say US set to impose sanctions
The Turkish lira extended losses against the dollar late on Thursday after sources said the United States was poised to impose sanctions on Turkey over its acquisition of Russian S-400 air defense systems.
The lira weakened as far as 7.9290 against the US currency and stood at 7.9175 at 1822 GMT, 1.25 percent weaker than Wednesday’s close.
For all the latest headlines follow our Google News channel online or via the app.
The US is poised to impose sanctions on Turkey over its acquisition last year of Russian S-400 air defense systems, four sources including two US officials told Reuters on Thursday, a move likely to worsen already problematic ties between the two NATO allies.
The long-anticipated step, which is likely to infuriate Ankara and severely complicate relations with the incoming administration of President-elect Joe Biden, could be announced any day, sources said.
Read more:
US poised to sanction Turkey over Russian defense system: Sources
Turkey’s Erdogan to discuss US tensions when Biden takes office
France tells Turkey to clarify positions if it wants constructive ties
Also Read
-
Turkish banking watchdog raises limit banks’ lira transactions abroad
Turkey’s banking watchdog said on Monday that it will raise the limit on banks’ Turkish currency placements, depo and repo transactions and loans with ... Economy -
Turkish Lira drops most since 2019 as thin liquidity amplifies declines
The Turkish lira headed for its biggest drop in more than a year, defying a broader risk-on rally in emerging markets as locals took advantage of ... Middle East
