Turkish lira remains stable after US sanctions
Turkey’s currency remained relatively stable Tuesday after the United States imposed limited sanctions on Ankara for acquiring Russian-made S-400 missile defense systems.
ISTANBUL — The Turkish lira was unrattled Tuesday after the United States imposed sanctions on Ankara over its 2019 acquisition of Russian-made S-400 missile defense systems.
The currency rallied 1% to 7.82 per dollar Monday following the announcement, holding steady at around 7.84 through Tuesday as some market observers concluded the long-looming threat of US Countering America's Adversaries Through Sanctions Act (CAATSA) penalties had already been priced into Turkish markets.
