Turkish lira plunges to record low after Trump doubles tariffs

Economy | Politics 8/10/2018, 3:08 PM
Turkish lira plunges to record low after Trump doubles tariffs

Turkish lira plummeted to a new record low against the dollar, dropping around 17%, as United States President Donald Trump announced he decided to double the Turkish tariffs on steel and aluminum.

Previously, President Tayyip Erdogan called the public in the country to exchange gold and dollars for liras, adding that Ankara will retaliate with equal measures on any country that decides to wage an economic war on Turkey

The US dollar was 16.64% higher against Turkey's currency at 3:18 pm CET to go for 6.4771 Turkish liras. Meanwhile, the euro was up 15.53% against the lira, selling for 7.4030 Turkish liras at 3:20 pm CET.

Breaking the News / BM

Share:

USD/TRY-0.19%

5.7749
Chart for: USD/TRY Spot

EUR/TRY-0.09%

6.69623
Chart for: EUR/TRY Spot