Click to read the article in Turkish
The exchange rate of the US Dollar, which was around the level of 4.93 Turkish Lira early on August 1, exceeded 5 Turkish Lira at the evening hours.
The US Dollar/TRY parity, which fluctuated during the day, was 4.92 Turkish Lira when the markets closed.
In the international markets, the exchange rate of the US Dollar exceeded 5 TRY at 10 p.m. local time in Turkey, reaching an all-time high.
As of 10.25 a.m. today (August 2), the exchange rate of the US Dollar was 5.07 Turkish Lira.
The impact of US sanction on Turkey
The US Dollar exceeded 5 Turkish Lira after the US announced its decision to impose sanctions on Turkey.
Spokesperson for the White House Sarah Sanders has declared that the US will impose sanctions against Minister of Interior Süleyman Soylu and the Minister of Justice Abdülhamit Gül in the wake of Pastor Andrew Craig Brunson not being released.
Gül and Soylu have been mentioned in the sanctions due to their roles in the arrest of Brunson. The two ministers have been included within the scope of financial sanctions.
Inflation will be the second challenge
On August 3, the inflation rates in July 2018 will be announced, which will be the second challenge for the Turkish Lira against the US Dollar.
The Chair of the Central Bank Murat Çetinkaya also announced on July 31 that the Central Bank increased its inflation forecast from 8.4 percent to 13.4 percent. (HK/SD)
Related bianet News
Sanction by US Against Turkey’s Minister of Justice, Minister of Interior 02 August 2018The US has decided to impose sanctions in the wake of Pastor Brunson ...
Central Bank Increases Its Inflation Forecast by 5 Percent 31 July 2018The Central Bank has released its inflation report for the third quarter of ...
Most Read Today
Social Media Investigation Against 176 People 16 October 2018
Operation Against Community Houses in Ankara 16 October 2018
PROF. DR. ŞEBNEM KORUR-FİNCANCI: 'Vefa Kartal Taken from Hospital to Prison is Vulnerable to Infection' 15 October 2018