Turkey ETF Rebounds as Ankara, Washington End Visa Dispute

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"We welcome the decision of the United States to resume as of today regular visa procedures, by lifting the restrictions applied to our citizens", the Turkish Embassy in the USA said in a statement.

Turkish stocks and country-specific ETF strengthened Thursday after the US and Turkey lifted all visa restrictions, ending months-long dispute over diplomatic duties.

Earlier on Thursday, the State Department released a statement that indicated visa services in Turkey had been fully restored.

"Based on adherence to these assurances, the Department of State is confident that the security posture has improved sufficiently to allow for the full resumption of visa services in Turkey", the US Embassy in Ankara said on Thursday. But the Turkish embassy in Washington also put out a statement in Turkish disputing the US claim that it had made such guarantees.

The US had suspended all non-immigrant visa services after the arrest of one of its consulate employees in October.

"We find it wrong to misinform the Turkish and the American public by claiming that the USA received assurances from Turkey", the statement said.

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"In accordance with the principle of reciprocity, restrictions on visa services applied to American citizens have been lifted simultaneously", the Turkish embassy said in a statement.

The Turkish embassy in Washington said, however, that it had not offered any assurances to the U.S. over its detained staff.

The Turkish Embassy in Washington D.C., in turn, also announced lifting of restrictions on visa services, adding that it welcomed the U.S.' decision.

Turkey's lira firmed to 3.78 against the U.S. dollar after the statement, its highest level since 31 October, and the main share index BIST100 climbed 2.08 percent to reach its highest closing level ever.

Turkey faults the USA for refusing to hand over Turkish cleric Fethullah Gulen, a Pennsylvania resident who Turkey President Recep Tayyip Erdogan blames for a July 2016 coup attempt.

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