Turkish lira lost 5% of its value against dollar today

The Turkish lira lost 5 % of its value against the dollar on Friday, to record levels .

Turkish lira lost 5% of its value against dollar today
10 August, 2018   13:08

NEWS DESK

Sky News reported that the Turkish lira continued its downward journey, after losing 2% of its value on Thursday. The dollar reached 5.4 pounds on Thursday, while the euro reached 6.3 pounds.

The latest declines came after a delegation led by Turkish Deputy Foreign Minister Sidat Onal failed to reach an agreement with Washington on a number of issues, including the arrest of US priest Andrew Branson, who caused a crisis in relations.

Tensions between the two countries have caused considerable damage to the Turkish currency which has lost about 40 percent of its value this year.

It is noteworthy that Turkey is experiencing a deficit in international trade, as the volume of imports of the country is larger than the volume of exports, they spend more than they receive funds.

A.H

ANHA