After the US decision, the Turkish lira is falling apart

The Turkish lira fell sharply after the US decision to end Turkey's preferential trade deal, which allowed some exports to enter the United States without customs.The Turkish lira fell sharply after the US decision to end Turkey's preferential trade deal, which allowed some exports to enter the United States without customs.

Concerns about Turkey's prospects add to the pressure on the Turkish lira resulting from the rising dollar, while a US Treasury decision will have a mixed effect, a trader in a treasury department said.

"US decisions have been taken into account in a negative way, but the decisions have no clear economic impact," the trader said.

He continued: "Financial markets will monitor the political statements on relations between the two countries, given the risks it has in recent times."

By 08:22 GMT, the lira was 6.0595 against the dollar, down from the close of 6.0475 on Thursday.

The Turkish economic crisis continues to deteriorate as well as the Turkish lira against the dollar has doubled every day as a result of the interference of Turkish President Recep Tayyip Erdogan in the affairs of the neighboring countries and financing terrorism to serve his interests.

The United States concluded Turkey's preferential trade deal where some Turkish exports were allowed to enter US territory without customs.

ANHA

 


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