Turkish Lira Firms After Trump-Erdogan Phone Call
Turkey’s lira firmed nearly 1% on Thursday on expectations that ties with Washington will improve after the two presidents discussed Ankara’s purchase of Russian S-400 missile defense systems during a call, Reuters reports.
The lira was down as much as 14% this year due in part to growing friction between the NATO allies and the risk that delivery of the Russian-made surface-to-air weapon would trigger U.S. sanctions. Washington says the S-400s would compromise its F-35 fighter jets.
During Wednesday’s call, Turkish President Tayyip Erdogan reiterated to U.S. President Donald Trump a proposal to set up a working group to assess the impact of the S-400s. The two also agreed to meet on the sidelines of a G-20 summit in Japan at the end of June.
The lira stood at 5.9650 at 0838 GMT, firming nearly 0.85% from Wednesday’s close of 6.0155. Earlier, it firmed as much as 5.9625, its strongest in more than two weeks.
Turkey’s dollar-denominated sovereign bonds also surged, with the 2030 issue up 0.9 cents on the dollar, its most in two weeks, according to Tradeweb data. The 2045 issue climbed 0.7 cents.
The call between the leaders sparked hopes that there may be a deal regarding the missile defense system and remove the threat of sanctions on Turkey, said Jason Tuvey, senior emerging markets economist at Capital Economics.
“The default remains that Turkey will take delivery of the S-400s from Russia. So, investors will need to see some further steps over the coming weeks to feel more confident that tensions are de-escalating,” he said.
- Turkey Says Turning Back on S-400s 'Problematic' "It is a very problematic situation to turn back from the point we have come to. We invite (the United States) to distance themselves from threatening language such as sanctions," Akar told journalists...
- Turkey Arrests Another Former Intelligence Officer in Hrant Dink Murder Case Earlier last week, the Istanbul court ordered the arrest of two former gendarmerie intelligence officers – Volkan Sahin and Veysal Sahin – in the same case.
- Turkish Lira Exchange Rate Hits Another Record Low Against USD Earlier, Bloomberg had linked the ongoing devaluation of the lira to the fears that Ankara could become embroiled in the Nagorno-Karabakh (Artsakh) conflict between Armenians and Azerbaijanis.
- Turkey Denies Airspace for Transfer of Humanitarian Cargo to Armenia The airline did not give any sound reason. The humanitarian aid collected by the Armenian-American community was supposed to be sent to the civilians affected by the Artsakh-Azerbaijani war.
- Saudi Prince Calls for Boycotting Turkey Imports According to The New Khalij, the prince retweeted Erdogan’s remarks and wrote: "Therefore, I call for a full popular boycott for the Turkish products in order to protect the stability of Turkish economy...
Turkey Informs About Composition of Turkish-Russian ceasefire Monitoring Center in Karabakh
Putin Discussed the Outcome of the Karabakh Trilateral Summit with Permanent Members of Russia's Security Council
Governor of Shirak Tigran Petrosyan Tenders Resignation
The Armenian Cultural Heritage in the Territories under the Azerbaijani Control is Seriously Endangered: MFA
More than 100 Individuals Arrested for Capitol Hill Riots, Says FBI
North Korea Unveils New Submarine-Launched Missile
Hrant Dink Commemoration Events to be Held Online this Year
Russian Peacekeepers in Karabakh Begin Coronavirus Vaccination
Armenia Records 163972 Confirmed Coronavirus Cases
Some Roads are Closed in Armenia
Russian Foreign Ministry Informs US, French Ambassadors About Putin-Pashinyan-Aliyev Meeting
Iran Fires Cruise Missiles during Naval Drill
Turkey Says Turning Back on S-400s 'Problematic'
Iranian Champion Dedicates his Gold Medal to the Family of Armenian Athlete Killed in the Artsakh War
No Search Operations Planned in Artsakh at the Request of Azerbaijan
Feast of the Birth of St. John the Forerunner (Baptist)
Trump again Urges "No Violence" Following Historic 2nd Impeachment
Information Provided by Armenian POWs in Azerbaijan can’t Serve as Base for Prosecution against Them
Armenia Records 163576 Confirmed Coronavirus Cases
US House of Representatives Impeaches Trump
Pilgrimage to Armenian St. Thaddeus Monastery in Iran Inscribed on UNESCO Intangible Cultural Heritage List
Lavrov: No Provocations Against Russian Peacekeepers in Nagorno-Karabakh
Azerbaijan President's Statement Contradicts point 8 of Statement Signed on November 9, 2020: Arman Tatoyan
Artsakh Authorities Find More Bodies of Fallen Troops in Ongoing Search Operations
Artsakh Security Chief: We Could Have Avoided the War
Colorado Identifies First Known Case of UK Coronavirus Variant in US
Armenia to Import 2,250 Goods from Iran Instead of Turkey
Bodies of 1,111 Fallen Armenian Soldiers Retrieved So Far: Artsakh Emergency Service
Let's Believe that 2021 Will Restore Our Lost Dignity
Armenian, Azerbaijani Intelligence Chiefs Discuss PoW Exchange at Moscow-Mediated Meeting
Wind: 12 km/h