Business & Economy

Circulating news torpedoing the Turkish currency

After the media circulated unconfirmed news

Regarding the United States ’intention to impose sanctions on Turkey over its purchase of the Russian S-400 air defense systems, the Turkish lira recorded an unprecedented fall against the dollar in late transactions, today, Thursday …

As the Turkish lira fell to 7.9290 against the US currency and recorded 7.9175 at 18:22 GMT, down 1.25 percent from Wednesday’s close.

According to reports published by unnamed American sources, the sanctions may target the Turkish Presidency of Defense Industries and its head, Ismail Demir.

Several sources said that they expected the sanctions to be announced, on Friday, but one of them said that he could come at any time, perhaps today, Thursday.

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