Turkey-US concerns weigh on Turkish lira

Turkey-US concerns weigh on Turkish lira

ISTANBUL/WASHINGTON
Turkey-US concerns weigh on Turkish lira

Concern over uncertainties about whether a meeting between Turkey and the U.S. could heal their wide diplomatic rift weighs on the Turkish currency.

The Turkish Lira stood at 5.4650 against the dollar at 1356 GMT, down more than 3 percent from the previous day's close and after sliding to an all-time low of 5.48.

The Turkish currency lost more than 30 percent against the greenback since the end of last year.

Turkish officials held meetings on Aug. 8 with the State Department’s No. 2 official, John Sullivan, following a move by the U.S. to hit two senior Turkish government ministers with sanctions over the detention of an American pastor.

“We held additional talks with Turkish officials. The conversations continue,” State Department spokeswoman Heather Nauert said in a statement after the meeting.

The delegation of roughly half a dozen officials was led by newly appointed Turkish Deputy Foreign Minister Sedat Önal and Turkey’s ambassador to Washington Serdar Kılıç.

They did not answer questions from reporters as they left the meeting with Sullivan.

A U.S. Treasury spokeswoman said the delegation would also meet Treasury officials later on Aug. 7.

Turkish Lira, Turkish economy, US-Turkey ties