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Erdogan says Turkey will boycott US electronics, lira steadies

The lira has lost more than 40 per cent this year and crashed to an all-time low of 7.24 to the dollar

Reuters  |  Istanbul 

President Tayyip Erdogan said on Tuesday Turkey will boycott electronic products from the United States, retaliating in a dispute with Washington that has helped drive the lira to record lows. The lira has lost more than 40 per cent this year and crashed to an all-time low of 7.24 to the dollar early on Monday, hit by worries over Erdogan's calls for lower interest rates and worsening ties with the United States. The weakness of the Turkish currency has rippled through global markets. Its drop of as much as 18 per cent on Friday hit US and European stocks as ...

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First Published: Tue, August 14 2018. 17:09 IST
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