The lira's recent recovery suffered a painful setback and it slipped by more than 5 per cent after President Trump threatened to hit Turkey with a further wave of sanctions. The currency was supported by Turkey's plan to cut spending, support for the banks and Qatar's pledge to invest $15bn in the country.
"We've put sanctions on several of their Cabinet members", Mnuchin said during a Cabinet meeting with Trump. His transfer to house arrest came after Trump asked Israeli Prime Minister Benjamin Netanyahu to assist in Brunson's release, Israeli and USA officials told CNN at the time.
Trump prefaced Mnuchin's remarks by saying that Turkey had not been a very good friend.
Referring to Brunson, Trump said: "They have a great Christian pastor there, he's a very innocent man".
Whatever action the United States takes looks likely to cause more pain for Turkish assets. We are not going to take it sitting down.
His words came shortly after the high court in Turkey rejected the pastor's appeal for release.
Despite the strengthening of the Turkish lira recently, on the heels of the government and central bank measures, experts still consider that this rebound is temporary and the currency will drop to seven or eight lira against one United States dollar.
Putting all the mathematics and statistics together, it concludes that there are 8.5 times more iPhone users worldwide than there are people in Turkey.
Mr Brunson is being held in a Turkish jail for allegedly supporting a group that Ankara blames for an attempted coup against Mr Erdogan in July 2016, a charge he fiercely denies.
Mr Albayrak, President Recep Tayyip Erdogan's son-in-law, said the country's banks were healthy and strong and the nation would not be turning to the International Monetary Fund for a bailout.
Donald Trump is once again turning the heat on Turkey with the detention of an American pastor. Turkey retaliated with some $533 million of tariffs on some US imports - including cars, tobacco and alcoholic drinks - and said it would boycott USA electronic goods.
He says the USA will pay nothing for his return, because he is innocent and indicated the pressure on Turkey will continue. Brunson's next hearing is scheduled for October 12.
The leader of Turkey's main opposition party said Erdogan was using the standoff over the evangelical pastor as a "pretext", blaming the United States for economic problems and diverting attention from his own alleged mismanagement.