Turkish lira weakens as markets reopen at end of holiday

ANKARA, Turkey — The Turkish currency has again weakened against the dollar, as Turkey's markets resumed trading after a week-long religious holiday.

The Turkish lira was down some 3.5 percent on Monday, trading at around 6.22 against the dollar.

The currency has seen a sharp fall in value this year amid investor concerns over President Recep Tayyip Erdogan's economic policies and an on-going diplomatic and trade dispute with the United States.

The United States has slapped sanctions on two Turkish Cabinet ministers and doubled tariffs on Turkish steel and aluminum imports over the continued detention in Turkey of American pastor Andrew Brunson. Turkey retaliated by increasing tariffs on certain U.S. imports.

The pastor is accused of espionage and terror-related charges and faces a maximum 35 years in prison if convicted.

You may also interested in

Egypt places colossus of Ramses II in atrium of...

Jan 25, 2018

Egypt places giant statue of Ramses II in entrance hall of antiquities museum under construction...

Egypt censors play 'Before the Revolution,'...

Mar 18, 2018

Egypt's state censors have prohibited the performance of a play on the day of its Cairo premiere,...

Two communities show Nubians' past, a version of...

Jul 15, 2018

Two communities show Egypt's Nubians _ their grim reality today and their dreams of returning to...

Egypt razes historical Cairo district, angering...

Aug 15, 2018

Egyptian authorities are demolishing a historical 19th century neighborhood in Cairo to make way...

Video of unwanted advance divides Egyptians

Aug 22, 2018

A video posted online by an Egyptian woman who says a man stalked her at a bus stop has stirred...

About Us

Originally founded in 2015, Voyage Times publishes articles on travel and lifestyle for travelers, leisure seekers, and culture hunters from around the world.

Contact us: sales[at]voyagetimes.com

Subscribe Now!

Quick Links

HomePress