Tag Archives: Turkey

The Turkish trade deficit in May increased by 20.74% on an annual basis, to $4.15 billion, according to the General Trade System. Data from the Commerce Ministry showed that exports rose 65.5% to $16.48 billion, compared to the same month last year when Ankara began easing restrictions on trade to …

Turkish President Recep Tayyip Erdogan reiterated that his country needed to cut interest rates and that he had spoken to the central bank governor about the issue, which has sent the lira to new record lows against the dollar. “I spoke to the central bank governor today – we definitely …

The Turkish lira rose more than 1% on Wednesday, March 24, to offset some of the losses it incurred after President Recep Tayyip Erdogan’s surprise decision at the weekend to change the central bank governor to the last opponent of tightening fiscal policy. The lira reached 7.8650 dollars against the …

The Turkish lira fell on Friday, May 28, to its lowest level ever, influenced by fears of rising inflation worldwide and expectations at the local level that the central bank will cut interest rates soon, along with the emergence of concerns about a possible early elections. The currency, the worst …

Data showed today, Tuesday, that industrial production in Turkey jumped 16.6% year on year in March, exceeding expectations by a large margin, to record growth for the tenth month in a row after a sharp slowdown last year, coinciding with the start of measures to combat the Coronavirus pandemic. The …

The Turkish lira weakened slightly Thursday, May 6, ahead of the central bank meeting to set the interest rate, as it is expected to keep the main interest rate unchanged in the face of rising inflation. The lira was at 8.3350 against the dollar, down slightly from the settlement rate …

The Turkish auto distributors association said on Tuesday that sales of passenger cars and light commercial vehicles in Turkey jumped 132.4% year on year in April to 61,488 units. The union added that sales increased 72.4% annually from January to April.

Today’s data showed that Turkey’s inflation rate rose to 17.14% year-on-year in April, touching its highest level since mid-2019, and continuing pressure on the central bank to maintain a hard-line policy. On a monthly basis, the Turkish Statistics Institute said consumer prices rose 1.68%, compared to a Reuters poll forecast …

Data from the Turkish Statistics Institute on Friday showed that Turkey’s foreign trade deficit shrank by 14.9% year on year in March to $4.65 billion, according to the general trade system. The institute said that Turkey’s exports in March rose by 42.2% and imports increased by 25.6% compared to March …

The Turkish lira stabilized ahead of the central bank’s report on quarterly inflation, which is expected to raise its expectations in the face of the falling currency and rising commodity prices. The lira was at 8.1950 against the dollar, which is below its close level on Wednesday at 8.2. The …