(MENAFN) As investors took fright over an impending trial in the United States and changes to banking regulations, the Turkish lira hit record lows in value against the US dollar on Tuesday.
The lira was down over one percent to 3.97 to the dollar at 0652 GMT before rallying slightly to 3.96 at 0800 GMT.
The drop followed the delay on Monday of a scheduled trial of Turkish-Iranian gold trader Reza Zarrab and Mehmet Hakan Atilla, the deputy chief executive of Turkish lender Halkbank, accused of defying US sanctions on Iran.
MENAFN2611201700450000ID1096147925
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.