The Turkish lira eased a further 0.5% against the dollar on Wednesday, weakening for the fifth consecutive session and bringing the currency back towards the lows which it hit in late December after a series of unorthodox interest rate cuts. …
According to Bloomberg, Turkey is set to raise inflation forecasts after consumer prices surged to nearly …
Banks and big companies have benefited from Ankara’s controversial policy to keep interest rates low, while soaring inflation eats into the real income of the wage-earning masses
Turkey kept interest rates unchanged for a fourth straight month despite a surge in inflation past 60%, putting more onus on the central bank’s unconventional policies to tether the lira
Public outrage is growing in Turkey over the cost of a government scheme to curb dollarization and prop up the Turkish lira, launched hastily in December to stop the dizzying slump of the currency, now that payments have begun to depositors …
With Turkey’s consumer inflation already at 54.4%, price increases on fuel alone threaten to add two percentage points to the monthly inflation rate in March. A seemingly endless stream of fuel price hikes has sparked a nationwide outcry in Turkey, where the surge in global energy prices has been amplified by the depreciation of the Turkish lira
Turkey’s annual inflation rose more than expected to 54.44% in February, official data showed on Thursday, with Russia's operation in Ukraine raising concerns of further price pressure
Turkey will expand its drive to lure savers back to the lira next week with a scheme aimed at bringing billions of dollars worth of “under the mattress” gold into the banking system, the country’s finance minister told investors during a visit to London
A mix of soaring inflation and a currency that's lost nearly half its value has created a cost of living crisis in the country. Inflation surged to 48.7% in January, after reaching 36% in December. But some economists think the …
Turkey’s inflation soared to 36% in 2021, almost doubling expectations
Bulgarian shoppers are crossing Turkey’s western border in packed cars and buses, taking advantage of a declining Turkish lira to enjoy their own shopping sprees
The Turkish lira grew stronger Thursday in newly announced parity rates against foreign currencies, rates released every morning by the Turkish Central Bank for FX-protected lira deposit accounts. The US dollar/Turkish lira exchange …
Turkey’s lira rallied in the second day of chaotic trading after President Recep Tayyip Erdogan unveiled a new savings scheme that analysts described as a backdoor interest rate rise
The Turkish lira soared, rebounding from a record low reached earlier, after Turkish President Recep Tayyip Erdogan’s government announced extraordinary measures to bolster the currency. The dollar-lira currency pair plunged as …
Turkey's lira sputtered to another record low on Monday despite $6 billion in central bank interventions this month, after Turkish President Recep Tayyip Erdogan doubled down on his unorthodox low-rates policy by referring to Islamic usury …
Turkey's central bank slashed its policy rate by 100 basis points to 14% as expected on Thursday, carrying on with Turkish President Recep Tayyip Erdogan's plan even after inflation jumped above 21% and the currency spiraled to all-time …
The Turkish lira crashed as much as 7% in just a few minutes to a new record near 15 to the dollar on Monday, gripped by worries over President Tayyip Erdogan's risky new economic policy and prospects of another interest rate cut on …
Amid a sharp slide in the nation’s currency, the Turkish Central Bank announced it would intervene in markets and sell foreign exchange reserves Wednesday to stem volatility in the Turkish lira, …
Turkish President Recep Tayyip Erdogan appointed a new treasury and finance minister early Thursday after Lutfi Elvan stepped down from the post as the currency has been tumbling to record lows. Erdogan named Nureddin Nebati, who was …
The Turkish lira rebounded strongly Wednesday as the central bank said it had intervened due to “unhealthy” market prices. The Central Bank of the Republic of Turkey (CBRT) said in a statement it “directly” …
