Tag Archives: Turkey

The Turkish lira fell to new record levels against the US dollar, to break the barrier of 14 Lira to the dollar for the first time in its history after the S&P credit rating agency changed its outlook for the Turkish economy from stable to negative. The agency, S&P, said …

The Turkish lira fell by about 0.8 percent against the dollar on Friday, as investors continued to fear low-interest rates and high inflation, which pushed the lira towards a record low it reached last week. After it plunged to 13.9095, the lira settled at 13.8750 against the US currency. The …

The Turkish lira fell 0.7% against the US dollar to return to its lowest levels, affected by continuing concerns about the monetary easing policies of the Central Bank, despite the increase in the inflation rate by more than 21%. The Turkish lira recorded 13.85 to the dollar by 06:17 GMT, …

Data on Friday showed that inflation in Turkey rose more than expected to 21.31% on an annual basis in November, its highest level in three years, exacerbating the decline in real yields after the unprecedented decline of the lira to its lowest levels ever. The Turkish Statistical Institute said consumer …

Official data showed that the Turkish economy grew by 7.4% on an annual basis in the third quarter of 2021, in line with expectations of higher demand for retail sales, industrial production, and exports. The data of the Turkish Statistical Institute showed GDP growth of 2.7% compared to the previous …

The Turkish lira fell more than 4% against the dollar in weak and volatile trading Monday, November 29, approaching record lows hit last week when President Recep Tayyip Erdogan insisted he was sticking to his policy of cutting interest rates despite widespread criticism. The lira fell until its value reached …

The Turkish lira continued its recovery Thursday, November 25, after a historic plunge to record lows this week sparked by President Recep Tayyip Erdogan’s defense of interest rate cuts. The lira was trading at 11.85 against the dollar, as it rose about 1.9% from about 12.0820 yesterday, Wednesday. The lira …

The Turkish lira fell back to a new record low on Wednesday amid fears of high inflation and other economic repercussions, after it plunged 15 percent the previous day after President Recep Tayyip Erdogan defended recent interest rate cuts. The lira fell to 13.1500 against the dollar, before falling to …

The Turkish lira rose to less than 11.2 against the dollar on Monday, November 22, after hitting an unprecedented low late last week, after the central bank cut interest rates again under pressure from President Recep Tayyip Erdogan, and indicated that more monetary easing is coming. The lira was at …

The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it lowered its policy (one-week repo) rate by 100 basis points to 15% as expected. “Decided to cut rates after evaluating areas that monetary policy can impact.”“Positive impact of policy on commercial loans being seen.”“Evaluated temporary impacts …