Turkey’s lira weakened against the dollar on Monday after U.S. President Donald Trump warned it would devastate Turkey economically if it attacks a Kurdish militia in Syria.
According to Reuters, the lira, which lost nearly 30 percent of its value against the dollar last year, eased to 5.49 against the U.S. currency by 0454 GMT from a close of 5.4540 on Friday.
“Starting the long overdue pull-out from Syria while hitting the little remaining ISIS territorial caliphate hard, and from many directions,” Trump said late on Sunday in comments on Twitter. “Will devastate Turkey economically if they hit Kurds.”
Last week, Turkish President refused to meet with U.S. National Security Advisor John Bolton during his visit to Ankara. Instead, Bolton met with Erdogan’s advisor and spokesman Ibrahim Kalın. Bolton said Turkey should coordinate fully with the United States on any military action it was planning.
Also Read
-
Turkish lira slips after meeting with Bolton on Syria
The Turkish lira traded more than 2 percent weaker against the dollar on Tuesday, reflecting investor concern over a possible souring of relations ... Economy -
Turkey’s lira firms nearly one percent, extending recovery
Turkey’s lira firmed nearly 1 percent on Monday, extending its recent rally after investor worries over the central bank’s independence ... Financial Markets -
Turkish central bank raises rates sharply, boosts lira
Turkey's central bank raised its benchmark rate by a hefty 625 basis points on Thursday, the biggest such increase in President Tayyip Erdogan's ... Economy -
Turkey hikes gas, power prices by as much as 14 pct as lira crisis deepens
Turkey raised natural gas prices on Saturday by as much as 14 percent, two sources said, while the energy regulator announced a similar increase in ... Economy -
Turkey hikes tax on forex deposits to prop up lira
Turkey on Friday raised tax on foreign currency deposits in a bid to prop up the tumbling lira, in a presidential decision published in the official ... Economy
