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Markets

Turkish lira weakens on concern over conflict in Syria

The lira weakened as far as 6.04250 against the dollar from a close of 6.0075 on Monday. Its volatility has sp
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By Reuters
  • The lira weakened as far as 6.04250 against the dollar from a close of 6.0075 on Monday.
  • Its volatility has spiked since a late Friday selloff.

ISTANBUL: The Turkish lira weakened some 0.6pc against the dollar on Tuesday as investors grew increasingly concerned about an escalation of violence between Syrian government forces and Turkish forces in northwest Syria.

Five Turkish soldiers were killed in shelling by Russia-backed Syrian forces on Monday, marking the second deadly attack on Turkish forces in Syria's Idlib province within a week.

The lira weakened as far as 6.04250 against the dollar from a close of 6.0075 on Monday.

Its volatility has spiked since a late Friday selloff.

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