- 23.11.2024, Saturday
- 00:56
Turkish lira changes little after Trump threatens 'powerful' sanctions
News Service
09:0714/10/2019, Monday
U: 14/10/2019, Monday
REUTERS
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FILE PHOTO: A U.S. dollar banknote is seen through a magnifying lens on top of 50 Turkish lira banknotes in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/Illustration/File Photo
Turkey’s lira stood at 5.8985 against the U.S. dollar on Monday, little changed from Friday’s close, after U.S. President Donald Trump said he was working on “powerful” sanctions against Turkey over its offensive into northeastern Syria.
The lira TRYTOM=D3 closed the week at 5.8850 on Friday, as Turkey pressed on with a cross-border operation against YPG terrorists in northeastern Syria, after Trump decided to withdraw some U.S. troops from the region and opened the way for Ankara's incursion.
On Friday, U.S. Treasury Secretary Steven Mnuchin said that Trump had authorised “very powerful” sanctions targeting Turkey, which Turkey said it would retaliate in kind. On Sunday, Trump said that he was working with members of Congress on imposing “powerful” sanctions on Turkey.
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