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Turkish lira

Turks pile into the dollar, gold and stocks as 67% inflation savages ‘worthless lira’ – S. McLean, I. Yezdani & A. Cooban / CNN BUSINESS

Down a dimly lit alleyway tucked just inside Istanbul’s Grand Bazaar, a few dozen men are packed together, shouting, waving, and frantically speaking on...

How Far Can Turkish Lira Fall before Erdogan Starts a War? – Michael Rubin / MIDDLE EAST FORUM

Recep Tayyip Erdogan can thank the Turkish lira for his rise to power. A financial crisis that delegitimized mainstream politicians propelled his campaign. The lira's 30...

Turkey’s growing current account gap exacerbates lira weakness – Al-Monitor/Mustafa Sonmez

"A widening current account deficit, coupled with $181 billion in short-term external debt liabilities and plunging foreign investments, portend further currency woes for Turkey"...

Turkey tweaks bank trading guidelines as lira slips – Reuters

"Turkish authorities asked banks to carry out foreign exchange transactions with corporate clients between 10 a.m. (0700 GMT) and 4 p.m. (1300 GMT) when...

Turkish taxpayers outraged at cost of lira protection scheme – Al-Monitor

"Public outrage is growing in Turkey over the cost of a government scheme to curb dollarization and prop up the Turkish lira, launched hastily...

Turkey’s trade in counterfeit goods booms, fuelled by falling lira – The Guardian

"Photos of fake Gucci bags, Louis Vuitton sweatpants and Nike sneakers are flaunted on the social media accounts of a Turkish store with more...

Turkish lira drops most since December’s rout on Ukraine crisis – Ahval

"Turkey’s lira slid by more than 4 percent against the dollar on Thursday, the biggest decline since a currency crisis heightened in December, and stocks slumped after...

Rising anger with Turkey drives calls for reunification in crisis-hit northern Cyprus – Guardian

"With the economy in freefall and allegations of political interference, people have taken to the streets to advocate for federal future" reports Helena Smith...

Turkey faces threat of financial crisis after lira plunges against dollar – Guardian

"Central bank forced to defend currency as traders respond to interest rate cut with sharp selloff" reports Larry Elliott in Guardian. Fears that Turkey is...

Turkey’s President Follows His Own Advice Even as Economy Slips – New York Times

"President Recep Tayyip Erdogan sat for an interview on national television late last month, apparently seeking to calm nerves about Turkey’s weakening currency and...

Turkish inflation nears 20% on rising food, energy costs – Al-Monitor

"While Turkey’s latest official inflation figures beat expectations, raising some concerns over data integrity, consumer prices are expected to keep rising amid growing global...

Turkey’s currency hits a new low after a surprise interest rate cut – New York Times

"The Turkish lira fell to a record low on Thursday after the central bank unexpectedly cut its benchmark interest rate, alarming investors who took...

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