Monday, 1 Jun 2020

The release of the US priest and Trump’s comments rose the value of the Turkish lira

BAGHDAD, The Turkish lira jumped in early trade on Wednesday to its highest level, days after the US priest was released and Trump's comments on Turkey.

According to official prices, the exchange rate was 5.67 lira per dollar, the highest level of the Turkish currency since August 10 when it fell by up to 18% during trading.

Compared to the close of trading on Tuesday, the Turkish lira rose 1.97%.

The Turkish currency also rose yesterday by 2% against the US currency, reflecting the growing optimism about improving relations with the US after the release of US Rev. Andrew Branson.

Trump said during his meeting with Pastor Andrew Branson at the White House on Saturday that the United States has a chance now to build a wonderful relationship with Turkey, considering that the release of Branson represents a major step towards restoring relations with Turkey to the former period.

The Brunson case was one of the factors behind the lira's 40 percent fall against the dollar this year.

Source: National Iraqi News Agency

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