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BREAKING
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces
Hamas: A delegation from the Hamas leadership, led by the head of the leadership council, Mohammad Darwish, met with an Islamic Jihad delegation, headed by its Secretary-General, Ziyad al-Nakhalah

"Erdogan's Anger" Causes Record Low of Lira

  • By Al Mayadeen
  • Source: Agencies
  • 25 Oct 2021 15:42
2 Min Read

Turkish Lira hits a new record low against the dollar after President Erdogan threatens the expulsion of 10 diplomats.

  • x
  • Turkey's Lira hits a new low
    Turkey's Lira hits a new low.

Turkey's Lira scored a new record low against the dollar on Monday morning as markets opened. The lira fell to 9.80 against the dollar before recovering slightly to 9.73 at 5:00 GMT, marking a 1.3% decrease.

This drop was caused by President Recep Tayyip Erdogan's threat to expel 10 Western diplomats that called for the release of businessman and activist Osman Kavala.

Kavala has been in prison since 2017 without a conviction, and is facing a number of charges over his role in the 2013 Gezi protests and the failed coup d'etat of 2016.

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In a joint statement on October 18, Canada, Denmark, Finland, France, Germany, the Netherlands, New Zealand, Norway, Sweden, and the US said that delays in Kavala's case "cast a shadow" over Turkey's democracy and the judicial system.

The statement sparked the anger of the Turkish President, who ordered the foreign minister to “declare these 10 ambassadors as persona non grata as soon as possible," the final step before actual expulsion.

A cabinet meeting is set to take place at 12 GMT in Ankara, where the decision of whether or not to expel them will be taken.

Bluebay Asset Management Analyst Timothy Ash said the expulsion of the 10 diplomats may harm Erdogan, adding that these 10 countries will limit their trade with Turkey, which will therefore harm investments.

The Turkish Lira has had a full week, losing 24% of its value to the dollar since the beginning of the year.

  • Turkish President Recep Tayyip Erdogan
  • Turkish lira
  • Osman Kavala

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