Turkey lira crashes to 19% daily loss vs dollar after Trump comments

The embattled Turkish lira tumbled almost 20 percent to new record lows against the dollar on Friday
Friday, 10 August 2018 17:40

The embattled Turkish lira on Friday crashed to a 19 percent daily loss against the dollar, extending earlier losses after US President Donald Trump said he had doubled steel and aluminium tariffs on Turkey.

At 1335 GMT, the Turkish lira was down 19 percent at 6.6 against the dollar. It had minutes before hit an all-time low of 6.87 against the dollar, a loss of 23.9 percent.

Compounding the lira's agony, Trump said he had doubled steel and aluminium tariffs on Turkey, noting that relations between the two countries were "not very good".