Turkish lira fell on fears of strained relations with America

The Turkish lira fell on Friday on fears of a possible deterioration in relations with Washington over the Turkish regime's intention to buy Russian S-400 missile defense systems.

Turkish lira fell on fears of strained relations with America
8 March, 2019   08:58

NEWS DESK

The Turkish lira fell to 5.4780 lira to the dollar by 07:18 GMT, compared with 5.4583 lira to the dollar on Thursday, according to Reuters.

The drop comes after Turkish President Recep Tayyip Erdogan said on Wednesday his country would never back down from its deal to buy Russian

S-400 systems.

The central bank kept the key rate unchanged on Wednesday as expected.

The Turkish lira lost about 30 percent of its value against the dollar last year on concerns linked to a diplomatic dispute with the United States and the independence of the central bank under pressure from Turkish President Recep Tayyip Erdogan.

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