Turkish Lira Surges On Signs Of End To Erdogan Row With West

The Turkish lira surged on Monday on expectations that President Recep Tayyip Erdogan was ready to walk back from his threat to expel 10 Western ambassadors over their statement of support for a jailed civil society leader

Ankara, (APP - UrduPoint / Pakistan Point News - 25th Oct, 2021 ) :The Turkish lira surged on Monday on expectations that President Recep Tayyip Erdogan was ready to walk back from his threat to expel 10 Western ambassadors over their statement of support for a jailed civil society leader.

The United States and several of the concerned countries issued identical statements on Monday saying they respected a UN convention that required diplomats not to interfere in the host country's domestic affairs.

The Anadolu state news agency said Erdogan "welcomed" the reassurance before heading into a cabinet meeting focused on what had threatened to become the most serious diplomatic crisis of his 19-year rule.

The lira pulled back from a historic low and was trading up half a percent against the Dollar on expectations that Erdogan would announce a compromise solution in a television address later on Monday.