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Turkey's lira plunges over diplomatic dispute with U.S.

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ArirangNews

Arirang News

Turkey's financial market has been slammed due to a diplomatic dispute with the United States over a detained American pastor.
Turkey's currency is in the doldrums,... plunging 14 percent in just a single day last Friday.
Kim Hyo-sun tells us more.
The signs at this currency exchange in Istanbul show one U.S. dollar is worth six Turkish lira.
Turkey's local currency has dropped 41 percent so far this year,... spreading fear as the country attempts to overcome years of high debt.

"We feel nervous. These things were not supposed to happen."

"For real, right now we think about the U.S. dollar when we go to sleep and when we get up. Our eyes follow the news on the television."

The Turkish market was hit hard mainly due to its diplomatic dispute with the U.S.
An American pastor has been detained in Turkey for nearly two years,... as the Turkish government accused him of being linked to a failed coup attempt.
Demanding the pastor's release,... President Trump imposed sanctions on Turkish ministers and slapped tariffs on Turkish steel and aluminum last Friday,... a move which was condemned by Turkey's president.

"We denounce the order that threatens the whole world with a trade war in order to shake them down."

Analysts say the tumbling Turkey lira could set off financial crises across Europe and in other emerging economies.
Kim Hyo-sun, Arirang News.

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Turkey's lira plunges over diplomatic dispute with U.S.
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