Turkey lira slides again as US talks end without breakthrough

Turkey's lira tumbled to another record low against the dollar on Thursday
Thursday, 09 August 2018 20:02

Turkey's embattled lira on Thursday hit a new record low against the dollar as high-level talks seeking to slacken tensions between Ankara and Washington produced no apparent breakthrough between the two countries.

The lira lost 2.0 percent to trade at 5.4 to the dollar and lost 2.2 percent against the euro to trade at 6.3, also a record low.

The two governments are at odds over a number of issue including the detention in Turkey of U.S. evangelical pastor Andrew Brunson on terrorism charges. 

Ankara and Washington also disagree over their military interventions in the Syrian war, Turkey's plan to buy missile defence systems from Russia and the U.S. conviction of a Turkish state bank executive on Iran sanctions-busting charges in January.

The tensions have hit hard the already battered Turkish lira, which has lost over 40 percent of its value this year.