Turkey's lira tumbled to another record low against the dollar on Thursday after a Turkish delegation returned from meeting US officials in Washington with no apparent solution to a diplomatic rift that has opened up between them.
The two governments are at odds over the detention in Turkey of US evangelical pastor Andrew Brunson on terrorism charges, and the rift has deepened investor concerns about Turkey's authoritarian trajectory under President Tayyip Erdogan. The lira stood at 5.4650 against the dollar at 1356 GMT, down more than 3 percent from the previous day's close and after sliding to an all-time low of 5.48.
The delegation of Turkish officials arrived back in Turkey on Thursday, a source from the foreign ministry said, a day after it met with officials from the US State Department and Treasury to try to resolve disputes between the Nato allies. The main BIST 100 index was up nearly 1 percent at 1359 GMT. There was no immediate comment from Ankara on whether the meetings were successful. The lira has lost nearly a third of its value this year, mainly fuelled by worries about Erdogan's influence over monetary policy.