Baku / 03.08.18 / Turan: On Thursday, August 2, the rate of the Turkish lira (TL, TRY) passed the psychological barrier - TRY 5 to USD 1 and continued falling.
By the end of trading on the currency exchange the rate was already TRY 5.08 per USD.
The day before, the TRY exchange rate was at the level of TRY 4.8 against the dollar.
The sharp drop in the rate occurred after the US imposed sanctions against the Turkish Ministers of Justice and Interior.
The reason for the sanctions was Ankara's refusal to release the US pastor Andrew Brunson accused by Ankara on charges of having links with Fethullah Gülen.
The pastor has lived in Turkey for more than 20 years and faces up to 35 years in prison, although there is no evidence of his guilt.
The fall of the TRY rate makes Turkey attractive for foreign tourists, who traditionally shop there.
Economic experts predict further decline in the TRY, which is primarily due to Erdogan's unpredictable economic policy and increased risks for foreign capital. The outflow of foreign investments from Turkey is another indicator of unfavorable economic prospects. -02D-
Politics
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President of the Council of the European Union Antonio Costa called the head of Azerbaijan Ilham Aliyev.
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Armenian Prime Minister Nikol Pashinyan published a set of proposals on his Facebook page aimed at establishing long-term peace in the region. Among them, he suggested that Azerbaijan should abandon mutual claims against Armenia, including in international courts. Other proposals include: refraining from using belligerent rhetoric, continuing the demarcation of borders, signing a peace agreement that is 90% ready, mutually implementing arms control, creating a joint mechanism to investigate violations of the ceasefire regime, and dissolving the OSCE Minsk Group.
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The United States announced a new and final military aid package to Ukraine under President Joe Biden’s administration. U.S. Secretary of Defense Lloyd Austin stated in Germany that the total amount of assistance will be $500 million.
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Baku is expected to see the construction of 10 new metro stations. President Ilham Aliyev discussed this during a meeting with journalists on January 7. The head of state noted that locations for the new metro stations have been selected, and investments will start being made this year.
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