Turkish lira edges up from record low

Turkey to'continue taking steps to save lira's value

Tensions Rise Between Turkey And U.S. After Trump Sanctions

Turkey's move to increase tariffs on USA imports has helped boost its weakened currency.

In return, Erdogan signed a decree to raise tariffs on USA imports including cars, alcohol and tobacco. Other affected products include fruit, coal, paper and rice.

"The import duties were increased on some products, under the principle of reciprocity, in response to the United States administration's deliberate attacks on our economy", Vice President Fuat Oktay wrote on Twitter.

President Trump and Vice President Mike Pence have repeatedly urged Turkey to release Brunson, with the us levying sanctions against two Turkish ministers over his detainment.

Pastor Andrew Brunson's lawyer renewed an appeal on Tuesday for Brunson's release from house arrest and for his travel ban to be lifted.

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The administration has also leveled sanctions against two members of Erdogan's Cabinet.

"We have received no indication from the Turkish authorities that they are contemplating a request for financial assistance", the International Monetary Fund spokesperson added.

In response to Washington's measures against Turkey, President Recep Tayyip Erdogan called for a boycott of American electronic products, notably Apple.

The lira, which has fallen nearly 40% against the dollar this year, rose 4.5% to 5.7TL on Thursday afternoon.

"Turkey and specifically President Erdogan have treated Brunson, who we know to be a very good person and a strong Christian whose done nothing wrong, very unfairly, very badly", said White House Press Secretary Sarah Sanders.

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The Turkish currency showed a rebound on Thursday after losing over 16 percent of its value last Friday, following US President Donald Trump doubling aluminium and steel tariffs on Ankara.

Trump has called Brunson's detention a "total disgrace".

The escalating feud between the longtime North Atlantic Treaty Organisation allies is playing out against a backdrop of economic tumult in Turkey, which has seen steep drops in the country's currency, the lira.

The lira had plunged to record lows on Monday, but has since clawed back some of its losses, not only after the retaliation on tariffs, but also after the Turkish Central Bank announced banks would be given help to keep money moving around the system.

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