Turkish lira

Turkish lira weakens against dollar

Turkish lira weakens against dollar

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. …

Turkey awaits inflation

Turkey awaits inflation

According to Bloomberg, Turkey is set to raise inflation forecasts after consumer prices surged to nearly …

Why Turkey keeps rate unchanged

Why Turkey keeps rate unchanged

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

Turkey reduces dollarization and defends Turkish lira

Turkey reduces dollarization and defends Turkish 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 …

Growing fuel prices intensify popular discord

Growing fuel prices intensify popular discord

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

How Ukrainian crisis affected Turkish lira

How Ukrainian crisis affected 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

Can tourism ease the inflation pressure in Turkey?

Can tourism ease the inflation pressure in Turkey?

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 …

Turkish lira stronger in daily FX-protected account rates

Turkish lira stronger in daily FX-protected account rates

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 …

Turkish lira soars on Erdogan’s measures to support currency

Turkish lira soars on Erdogan’s measures to support currency

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 …

Turkish lira drops to new low

Turkish lira drops to new low

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 …

Turkish Central Bank cuts key rate further despite lira slump

Turkish Central Bank cuts key rate further despite lira slump

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 …

Turkish lira plummets to new low

Turkish lira plummets to new low

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 …

Turkey's finance minister replaced as lira crashes

Turkey's finance minister replaced as lira crashes

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 …