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Aug. 15, 2018, 3:33 a.m. EDT

Turkish lira gains on dollar Wednesday even as Turkey raises tariffs

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By Victor Reklaitis

Turkey on Wednesday sharply ramped up its tariffs on some U.S. imports, including on cars, alcohol, rice and cosmetics, according to multiple published reports citing the country's Official Gazette. The move by President Recep Erdogan's government comes after U.S. President Donald Trump on Friday said he authorized the doubling of steel and aluminum tariffs on Ankara. Turkish Vice President Fuat Oktay said in a tweet that the tariffs on certain products were increased "within the framework of the principle of reciprocity in retaliation for the conscious economic attacks by the United States," according to an Associated Press report . Turkey's beaten-down lira /zigman2/quotes/210561870/realtime/sampled TRYUSD -0.6603% gained on the U.S. dollar early Wednesday, continuing a rebound from Monday's all-time low against the buck. One dollar /zigman2/quotes/210561895/realtime/sampled USDTRY +0.6647% recently bought 6.0897 lira, down from 6.3544 late Tuesday in New York.

Read the full story:
Turkish lira rebounds for a second session in a row, but dollar index extends its own rally

US : Tullett Prebon
-0.0005 -0.6603%
Volume: 0.0000
Jan. 21, 2022 4:59p
US : Tullett Prebon
+0.0888 +0.6647%
Volume: 0.0000
Jan. 21, 2022 4:59p

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