Turkish lira goes down against US dollar after visa crisis with USA

The Turkish lira depreciated against the dollar following the USA announcement that it would not issue a visa for Turkish citizens and retaliation from Turkey. The dollar was around 3.60 before mutual disclosure. Later it went up to 3.65 and 3.77 at night, coming down to 3.70’de in the morning meaning the Turkish lira has experienced a depreciation of 2.5 percent against the dollar. The euro on the other hand has risen to 4.35% from 2.67% since yesterday.

The US Embassy had announced that it suspended non-immigrant visa applications from Turkey on the grounds that Turkey had not fulfilled its commitment to the safety of US personnel. In return retaliation came from Turkey announcing visas were not to be granted to US citizens.

It was noticed that the statement of the US had came after the arrest of Metin Topuz, an embassy employee, on 4 October, on the grounds of espionage in the investigation of FETO terror organisation.