The lira is tumbling, as well as domestic stocks and bonds, after the Turkish premier installed the third governor in two years.
Turkey’s central bank admitted that it has boosted its foreign currency reserves with an “off balance sheet” arrangement. The central bank bolstered its holdings with “unorthodox” short-term currency swap deals. When removed from the total, they leave a lower-than-expected figure in its foreign currency reserves, worrying investors and analysts, as […]
Turkey launched probes into JPMorgan after claiming that the bank’s research note suggesting investors short the country’s currency was “misleading and manipulative.” It’s not the first time the country has hit out at foreign investors over alleged currency issues with Turkey’s President, Tayyip Erdogan, warning they would pay a “heavy […]
Some serious issues are piling up for the owner of the restaurant chain by Nusret Gokce, the chef and viral meme sensation known as Salt Bae, that’s often frequented by celebrities and sports stars. The steakhouse chain’s owner, a Turkish firm called Dogus Holding, “is struggling to repay foreign-exchange loans […]
The Turkish lira jumped more than 2.5% Thursday. NBC reports Washington and Ankara have reached an agreement on the release of a detained American pastor. Watch the lira trade in real time here. The Turkish lira jumped Thursday after reports its government could release a detained American within days, a […]
Turkey’s inflation rate rose to 24.5% year-over-year in September. The lira was down more than 1% against the dollar following the report. Watch the Turkish lira trade in real time here. Turkey’s currency slipped Wednesday after data showed inflation rising a sixth straight month to its highest level in 15 […]
Turkey sharply raised its benchmark interest rate this month. But it may need a hefty credit line to avoid defaults and capital flight. Macquarie strategists estimate it needs $US75 billion – more than Argentina recently received from the IMF. Turkey may need more than just rate hikes to shore up […]
The Turkish lira was up more than 3% Monday. Turkey may release an American whose imprisonment has caused conflict with the US. Watch the lira trade in real time here. Turkey’s currency rallied Monday amid reports the country could release an American whose controversial imprisonment has been at the center […]
Turkey’s central bank raised its interest rate to 24% from 17.75% on Thursday, beating market forecasts. Earlier in the day, Turkish President Erdogan stoked fears that the central bank’s independence could be under threat by calling for low interest rates. The lira is surging against the dollar as a result, […]
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 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 […]
The Turkish lira continues to fall against the US dollar on Monday. Credit rating agencies S&P and Moody’s both downgraded Turkey late Friday, stoking fears about the state of the Turkish economy. UBS said Turkish stocks saw their biggest investor inflows since early 2013 last week as investors “buy the […]
Several Turks on social media protested US sanctions and the country’s plunging currency by smashing their iPhones and chopping up US dollars. The trend appears to have started on Wednesday, after a video of a man obliterating five iPhones with a sledgehammer went viral. Turkish President Recep Tayyip Erdogan called […]
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 […]
Good morning. 1. On markets today, Warren Buffet increased his stake in Goldman Sachs. George Soros made a big bet on Spotify and Pandora. A new study shows Trump’s trade war probably won’t achieve one of its biggest goals. And while global markets stabilised after Turkey’s crisis didn’t spread to […]
Turkish President Recep Tayyip Erdogan has been threatening to leave NATO and the West behind for a long time, but he really doesn’t have other good options. Turkey engages in several behaviours that the rest of NATO finds unhelpful or downright toxic. US President Donald Trump’s sanctions on Turkey have […]
