Date: 4 weeks ago   Category: Financial

Because of sanctions of the USA. Record decline of Turkish lira


Because of sanctions of the USA. Record decline of Turkish lira
The national currency of Turkey has pulled for itself ruble and euro. Erdogan has offered partners, including Ukraine, to refuse payments in dollars. The Turkish lira promptly becomes cheaper and updates historical minima against the background of deterioration in the relations of Turkey with the United States. The leader of Turkey Recep Tayyip Erdogan has the day before urged citizens to sell dollars and gold. He has also offered the main trade partners, including Ukraine, to pass to payments in national currency. The depreciating Turkish lira has pulled for itself and other currencies. The Central Bank of Turkey announced on August 13 measures for protection of financial stability. Корреспондент.net tells details. The USA has dropped lira the National currency of Turkey has fallen off to a historical minimum last week. On August 10 the American dollar could be bought for 6,47 liras. The maximum falling from opening of the auction has made 14 percent. On August 13 the historical minimum has been again updated: after the beginning of the auction of morning on Monday lira exchange rate to dollar reached 6,9 - the rate of the Turkish currency has dropped by eight percent. Then the Turkish lira has record-breaking fallen in relation to dollar again. Her course has updated the next historical at least 7,13 liras for dollar. Only since the beginning of week lira exchange rate has decreased approximately by 20 percent, and for the last 12 months - more than for 40 percent, Wall Street Journal notes. The reasons of falling of a rate of Turkish lira became growing political and economic contradictions with the USA. Tension was fueled again on August 1 when the American Ministry of Finance has imposed sanctions against the Turkish Minister of Justice Abdulkhamit Gül and the Interior Minister Suleiman Soylu. Without gas and F-35. The conflict between the USA and Turkey the Reasons of introduction of the first sanctions of the USA against the member of NATO began to release unwillingness of Ankara of the American pastor Andrew Branson arrested in Turkey suspected of collaboration with the conspirators involved in a coup d'etat. After imposition of sanctions of the USA have taken economic measures against Turkey, having doubled duties on supply of the Turkish aluminum and steel. "Duties on aluminum will make 20 percent, 50 percent - on steel. Our relations with Turkey now bad!", - the U.S. President Donald Trump declared introduction of measures. Consequences for the whole world Decline of lira has negatively affected currencies and other developing countries. During the auction on Monday the rate of rand of the Republic of South Africa for a short time too has fallen approximately by ten percent to a minimum in two years. Also dollar exchange rate has exceeded 68 rubles for the first time since April, 2016. Sanctions of the USA and purchase of currency by the Bank of Russia for the Russian Ministry of Finance were still major factors pulling ruble down. As analysts note, it is connected with the fact that the situation in Turkey forces investors to leave emerging markets. In parallel the dollar continues to become stronger against euro. On August 10 euro has fallen to the lowest level for the last year in relation to US dollar. Decline of eurocurrency has made 0,6 percent - for it gave slightly more than 1,14 dollars. As writes CNN as the lira has influence on

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