BAGHDAD, The Turkish currency retreated on Friday to 5.86 lira to the dollar after closing on Thursday at 5.8150, amid warnings from the United States to Turkey of additional sanctions if the US detainee, Andrew Branson, is not released.
The lira has fallen 35 percent against the dollar this year as a result of deteriorating relations between the two NATO member states. The losses have raised concerns over the dominance of President Recep Tayyip Erdogan over monetary policy.
"We plan to do more if they do not release him quickly," US Treasury Secretary Stephen Menuchin said on Thursday at a meeting of President Donald Trump's government.
Source: National Iraqi News Agency