Turkish President Recep Erdogan on Thursday said interest rates are a “tool of exploitation” and called for low interest rates. The Turkish central bank makes an interest rate decision today. It is meant to be independent but has been coming under increasing pressure from Erdogan. Analysts say Turkey needs to […]
The Turkish lira was down as much as 5% against the dollar Thursday after a report said the deputy governor of its central bank would resign. The currency has lost more than one-third of its value within the last month. Watch the Turkish lira trade in real time here. Turkey’s […]
The lira fell 3.5% early Monday. It has shed nearly a third of its value this month. Watch the lira trade in real time here. Turkey’s currency fell sharply Monday as the country resumed trading after a weeklong holiday. The lira dropped 3.5% to 6.2964 against the dollar around 8:45 […]
Turkey reduced its holdings of US debt by 12% between May and June. The sell-off came before the diplomatic spat between the US and Turkey. The news follows Russia’s sell-off of US Treasuries from $US96.1 billion in March to an eleven year low of $US14.9 billion in May. Turkey’s holdings […]
Turkey’s lira crashed to an all-time low against the dollar on Monday, but has since been recovering. Qatar boosted the emerging market currency on Thursday with a $US15 billion loan. You can follow the lira live on Markets Insider. The Turkish lira continued to retreat from its historic low against […]
Turkey’s lira crashed to an all-time low against the dollar on Monday, but has since been recovering. Qatar boosted the emerging market currency on Thursday with a $US15 billion loan. You can follow the lira live on Markets Insider. The Turkish lira continued to retreat from its historic low against […]
The dire state of Turkey’s economy may be a consequence of a diplomatic misunderstanding between the country’s president and Donald Trump. Trump met Turkish President Tayyip Erdoğan at a July NATO summit, and reportedly cut a deal on prisoner releases. Turkey asked the US to get a prisoner out of […]
The lira has stabilised on Tuesday morning after a dramatic decline over the last 9 days. Turkish President Erdogan has vowed action against “economic terrorists” and claimed the US is waging economic “war” against the country. The drop in the lira was sparked by US sanctions against Turkey, economic conditions […]
Lots of things are going wrong in Turkey at once, driven by the collapse of its currency, the lira. The West needs Turkey to be strong, as Turkey is a physical buffer between Europe and the war in Syria. US sanctions have annoyed Turkish President Recep Tayyip Erdogan, who says […]
The Indian rupee hit an all-time low versus the dollar. The Turkish lira crisis has hit other currencies, analysts say. Watch the Indian rupee trade in real time here. India’s currency hit an all-time low Monday, signalling that fears surrounding a crisis in Turkey could spill over into other markets. […]
The Turkish lira fell 25% against the US dollar last week and is still under pressure. The currency is suffering from trade tensions with the US, deteriorating current-account balances, and fears around President Recep Tayyip Erdogan’s influence over the central bank. Analysts agree that an easy fix would be to […]
The Turkish government launched an investigation into social media activity that it believes has exacerbated the recent collapse of the lira. The country’s financial regulator is seeking prison sentences of up to five years for those who spread “erroneous and fabricated news and statements” to influence markets. Separately, the chief […]
Turkey’s currency crisis has lurched on to the global stage, denting European and US stocks as fears of contagion rise. The country’s economy was already in trouble, but the lira’s selloff was heavily compounded by Donald Trump’s announcement that he was doubling tariffs on Turkish steel and aluminium. The boomerang […]
The Turkish lira fell as much as 17% versus the dollar Friday. Trump said he would double the steel and aluminium tariff rate for Turkey. Washington recently imposed sanctions on Ankara over detained Americans. President Recep Tayyip Erdogan called on citizens to convert other currencies and gold into lira. Watch […]
The Turkish lira has fallen more than 10% against the dollar after a Turkish delegation in Washington failed to prevent US sanctions. There are concerns that contagion could spread to Europe. The euro dropped below 1.15 against the dollar on Friday. The lira “is falling so fast that a parachute […]
The Turkish government claims to have new evidence that the US was involved in the 2016 failed coup attempt after discovering a Word document entitled “coup directive,” which was authored by someone named John. Ankara is investigating everyone named John who was in country at the time of the coup […]
The Turkish lira climbed 3% against the dollar on Monday but has now stabalised, following the re-election of Recep Tayyip Erdogan as President of Turkey, arresting its sharp decline in recent months. Erdogan won Sunday’s elections with a 52.5% majority, as reported the state-run Anadolu Agency. Some commentators expect increased […]
The Turkish lira was up more than 1% on Friday. That’s ahead of a historic presidential election this weekend. Follow the Turkish lira in real time here. The lira rose Friday ahead of Turkey’s historic snap elections this weekend, which will also mark the country’s shift from a parliamentary system […]
The Turkish lira fell to record lows against the greenback overnight Tuesday. President Recep Tayyip Erdogan, who is running for reelection, is a self-proclaimed “enemy” of interest rates. Follow the lira in real time here. The Turkish lira plummeted to a record low versus the US dollar Tuesday as investors […]
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