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Turkish lira plunges 20% versus dollar after Trump authorizes doubling metals tariffs on Turkey 

By: Beldin in POPE 5 | Recommend this post (1)
Fri, 10 Aug 18 7:51 PM | 46 view(s)
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http://www.cnbc.com/2018/08/10/turkish-lira-loss-deepens-as-pm-erdogan-calls-for-citizens-to-convert-.html

The Turkish lira added to its steep losses on Friday, hitting a fresh record low, after President Donald Trump authorized the doubling of metals tariffs on Turkey.

The lira traded down 20 percent against the U.S. dollar at 6.797 after Trump made the comment in a tweet.

Trump's tweet came after Turkish President Recep Tayyip Erdogan asked citizens to convert their dollars and other foreign currencies as well as gold holdings to local lira.

"Change the euros, the dollars and the gold that you are keeping beneath your pillows into lira at our banks. This is a domestic and national struggle," Erdogan said, according to an Associated Press translation. ...

Hey, Erdogan ... Turks are keeping gold, dollars, and euros under their pillows because they rightfully do not have any faith in you, your regime, and the Turkish lira. So, you worthless buffoon, how does it feel to be walking in the shoes of Nicolas Maduro, eh? 




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