Turkish lira drops to record low after US sanction threat, row with France

YEREVAN, OCTOBER 26, ARMENPRESS. The Turkish currency slid further on October 26 to an all-time low against the U.S. dollar after President Recep Tayyip Erdogan dared the US to impose sanctions over his government’s decision to test its Russian-made air defense system and on the background of Ankara’s tensions with Paris and the EU after the insults to French President Emmanuel Macron.

The lira dropped another 1.3% to 8.06 against the dollar, a day after Erdogan dared Washington to impose sanctions after the NATO-member country tested the S-400 air defense system it purchased from Russia.

Editing by Stepan Kocharyan