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10/24, 11:27 PM (Source: TeleTrader)
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Lira drops 1.5% after Turkey expels envoys

The Turkish lira dropped more than 1.5% after the country's President Recep Tayyip Erdogan declared ambassadors of 10 countries personae non gratae.

On Saturday, Erdogan ordered the Foreign Ministry to expel envoys from the United States, Germany, France, Netherlands, Canada, Denmark, Norway, Sweden, Finland and New Zealand after they issued a statement calling for the release of Turkish activist Osman Kavala, who was arrested in 2017 over his alleged role in protests that took place in 2013.

The US dollar jumped 1.68% against the lira to go for 9.76 at 5:23 pm ET.

Breaking the News / NP