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lira crisis

Turkey’s forex sales to state firms hit record $4.15 billion in January: report

Sales of foreign currency to Turkey's state economic enterprises -- primarily energy importer Petroleum Pipeline Corporation (BOTAŞ) -- reached a record $4.15 billion in...

Turkey halts four-month streak of interest rate cuts

Turkey's central bank on Thursday bowed to market pressure and halted a four-month streak of interest rate cuts that saw inflation soar and the...

The costs of Erdoğan’s fight for Turkey’s ‘economic independence’

Turkey's consumer prices have soared by the highest rate since 2002, further undermining President Recep Tayyip Erdoğan 's unorthodox battle for his developing country's...

Turkish inflation hits 19-year high in December

Turkey's annual inflation rate surged to its highest level since 2002 in December, official data showed Monday, after a currency crisis sparked by President...

Economic confidence in Turkey drops to lowest level in 7 months

Turkey’s economic confidence index tumbled 1.8 percent month-on-month in December to 97.6 points, the lowest figure since May, data from the Turkish Statistical Institute...

Turkish lira crisis turns political with lawsuit threat

Turkey's currency crisis turned increasingly political on Thursday after a top minister urged citizens to sue economists who commented on social media about the...

Turkish central bank announces support for conversion of gold deposits to lira

The Turkish Central Bank has said it will provide an incentive for people to convert their gold deposits and participation funds into Turkish lira time...

Turkish lira crisis turns books into vanishing luxuries

Turkish doctoral student Gülfer Ulaş saw the first edition of her favorite Thomas Mann collection published for 33 liras. She found the second print of...

Opposition parties, labor unions dissatisfied with Turkey’s minimum wage hike

Turkey’s opposition parties and representatives from labor unions have expressed dissatisfaction with a 50 percent increase in the country’s minimum wage for 2022, saying...

Erdoğan replaces 2 finance officials ahead of CB’s rate decision

Turkish President Recep Tayyip Erdoğan has replaced two deputy finance ministers as part of his latest policymaker reshuffle ahead of today's interest rate decision...

Turkey increases minimum wage by 50 percent for 2022 amid lira crash

Turkey’s minimum wage will rise 50 percent next year to help offset increased living costs, President Recep Tayyip Erdoğan said Thursday, Bloomberg reported. The monthly...

Turkey faces shortage of critical medical supplies amid lira crash

A shortage of surgical and medical supplies in Turkey that started a few weeks ago mainly due to the country’s currency crisis has turned...

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