Fall in Dollar Lira rate accelerates after Pompeo’s statement regarding sanctions
The US dollar fluctuated in a narrow band around 5.70 during the day due to selling pressure in global markets. Based on anticipations the USA would lift the sanctions applied to Turkey the rate fell to the level of 5.6220
US Secretary of State Mike Pompeo stated that his country was expected to take decisions regarding sanctions applied to Turkey, soon. He added that some of these sanctions were directly linked to American priest Andrew Brunson who was released by Turkey last week.
Brunson who was on trial in Turkey for charges of connection to terror organizations was sentenced to imprisonment and considering the time he had been detained he was released on Monday
The dollar / TL rate which was around 5.70 before the statement, declined to 5.6220 following the statement. Dollar had tested the historic record of 7.24 on 10 August 2018.
The experts said an increase in demand for Turkish Lira was observed after the US announcement by Pompeo. They added that the visit paid by Pompeo and Eurobond issue have been factors to considerably reduce concerns regarding foreign exchange financing and have positive reflection on TL.
