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depreciation

Business

‘Lira at lowest level, can’t decline further,’ Turkey’s finance minister assures citizens

In an attempt to assure holders of lira deposits that there’s no reason for them to switch to foreign currencies, Turkey’s Treasury and Finance...
Business

Turkish lira declines to weakest since December over Ukraine concerns

The Turkish lira declined for a seventh straight day on Wednesday, bringing its losses to more than 5 percent since Russia launched its attack...
Business

Turkish lira slides ahead of likely interest rate cut

The Turkish lira on Wednesday extended its historic slide on the eve of a meeting at which the central bank was expected to lower...
Business

Depreciation of lira makes shopping in Turkey a bargain for neighbors

A growing number of people from neighboring countries are visiting Turkey to shop, with the rapidly depreciating lira making it an ideal spot to...
Business

Annual Turkish inflation surges to 21.31 percent in November: official data

Turkey's annual inflation rate jumped over 20 percent in November, official data showed Friday, after a currency crisis last month when the Turkish lira...
Business

Turkey economy grew 7.4 percent in Q3, boosted by demand and exports

Turkey's economy grew 7.4 percent year-on-year in the third quarter, meeting expectations on the strength of retail demand, manufacturing and exports, official data showed...
Business

Erdoğan doubles down on low interest rates despite lira fall

Turkey's President Recep Tayyip Erdoğan vowed "no compromise" on low interest rates in comments published by Turkish media on Monday, despite a currency crisis,...
Business

[OPINION] Turkey’s dollar-rich ruling elites profit as lira plummets

Türkmen Terzi The Turkish lira plummeted to a record low on Tuesday, losing 15 percent of its value and exceeding 13 to the US dollar,...
Business

Opposition leaders take action as Turkish lira drops to record low

Opposition party leaders have started to take action to stop the depreciation of the Turkish lira, which weakened to a record low of 13.49...
Headline

Ex-finance minister, blamed for worsening Turkish economy, spotted vacationing in Paris

As the Turkish lira sank to a record low against the US dollar on Thursday, the country’s former finance minister and son-in-law of President...
Business

Turkish lira hits new depths near 10 to the dollar

The Turkish lira continued its dive into uncharted territory on Thursday, touching a new low of 9.975 to the dollar after a jump in...
Business

Central bank increases Turkey’s 2021 inflation forecast as lira weakens

Turkey’s central bank raised its inflation projections for the end of this year with the lira trading just shy of record lows after rate-cut...
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