Tag Archives: Turkey

The Turkish lira approached an all-time low on Friday as foreign investors flocked out, but bargain hunting in the local market limited losses, a day after the central bank’s unexpected decision to cut interest rates while providing a little indication of how far it could fall. The lira, which has …

The Turkish lira lost about 0.4% of its value against the dollar on Monday, September 20, and hit its lowest level since July 9, under pressure from the dollar’s rally ahead of the Turkish Central Bank’s meeting to set the interest rate this week. The lira fell to 8.6835 compared …

The Turkish economy grew by 21.7% on an annual basis as expected in Q2, recovering strongly from a sharp slowdown a year ago driven by COVID-19 restrictions. Data from the Turkish Statistical Institute showed that the economy grew 0.9% from the previous quarter on an adjusted basis in light of …

Data from the Turkish Statistical Institute showed that the country’s foreign trade deficit rose 51.3% year on year in July to $4.278 billion according to the general trade system. The institute said that after the damage to trade a year ago due to the Corona pandemic, Turkey’s exports rose 10.2% …

On Tuesday, August 17th, the Turkish lira touched its strongest level against the US currency in nearly two weeks after investors’ concerns about a possible further easing in monetary policy eased. The lira reached 8.39 against the dollar, rising from a closing level of 8.4550 on Monday. Last week, Turkey’s …

The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it left its policy (one-week repo) rate unchanged at 19% as expected.  “Taking into account the high levels of inflation and inflation expectations, the current tight monetary policy stance will be maintained decisively until the significant fall …

On Thursday, August 5th, the Turkish lira touched its lowest level against the US dollar in a week on concerns about monetary policy after Turkish President Recep Tayyip Erdogan said interest rates would fall. The lira hit 8.55 against the dollar, down from a close of 8.48 on Wednesday. And …

Turkey’s trade deficit increased by 52.4% to $4.3 billion in July. The Turkish Ministry of Trade said that exports rose in July by 10.2% to record 16.41 billion dollars, after being hit in the spring of last year due to the impact of the Covid-19 pandemic on trade with Ankara’s …

Data from the Turkish Statistical Institute showed on Friday that the country’s foreign trade deficit shrank 0.2% year on year in June to $2.853 billion, according to the general trade system. After the trade was severely affected in the same period a year ago by the COVID-19 pandemic, Turkey’s exports …

The Turkish lira rose to its highest level in a month on Friday, buoyed by fading fears of an imminent interest rate cut as well as increasing optimism over emerging market currencies. The lira rose 0.6% to 8.5 per dollar, extending its recovery from a record low of 8.88 in …