ECONOMY

Turkey dollar bonds suffer fresh losses over US sanctions fears

The 2041 bond fell 1.23 cents in the dollar to 83.44 cents, suffering its seventh straight day of losses and hitting the lowest level since June 20. (File photo: AFP)

Turkey’s dollar-denominated government bonds came under further pressure on Monday amid rising concerns that Washington could slap sanctions on Ankara over its purchase of a Russian air defense system.

The 2041 bond fell 1.23 cents in the dollar to 83.44 cents, suffering its seventh straight day of losses and hitting the lowest level since June 20, according to Refinitiv data.

NATO member Turkey has started taking delivery of the first consignment of advanced Russian S-400 missile defense system parts on Thursday despite warnings from Washington that the move would trigger US sanctions.

Turkish markets are closed for a public holiday on the anniversary of the failed 2016 coup.

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Last Update: Monday, 15 July 2019 KSA 11:24 - GMT 08:24
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