Turkish lira plunges as Trump hits Ankara with increased tariffs - AL-MONITOR: The Middle Eastʼs leading independent news source since 2012

U.S. President Donald Trump and Turkish President Tayyip Erdogan speak at the start of the NATO summit in Brussels, Belgium July 11, 2018. REUTERS/Reinhard Krause - RC1E8AE4CB40

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U.S. President Donald Trump and Turkish President Tayyip Erdogan speak at the start of the NATO summit in Brussels, Belgium July 11, 2018. REUTERS/Reinhard Krause - RC1E8AE4CB40

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ISTANBUL, TURKEY - AUGUST 29: People wait to change money at a currency exchange office in front of the underconstruction, Taksim Square Mosque on August 29, 2018 in Istanbul, Turkey. Turkey's lira extended its slump to a third day to 6.45 against the dollar after the central bank announced it would alter Turkish banks borrowing limits on overnight transactions, the move failed to reassure investors and combined with the decision by ratings agency Moody's to downgrade the credit rating of twenty Turkish fi

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BRUSSELS, BELGIUM - JULY 12: Turkish President Recep Tayyip Erdogan arrives at the 2018 NATO Summit at NATO headquarters on July 12, 2018 in Brussels, Belgium. Leaders from NATO member and partner states are meeting for a two-day summit, which is being overshadowed by strong demands by U.S. President Trump for most NATO member countries to spend more on defense. (Photo by Jasper Juinen/Getty Images)

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