Turkish lira plunges to record low
- 19-Mar-2025
Turkey’s lira (TRY) fell as much as 12.7% and touched a new all-time low of 42 to the US Dollar (USD) on Wednesday, with bonds and stocks also tumbling sharply, after authorities detained President Tayyip Erdogan’s main political rival. The move against Ekrem Imamoglu, the mayor of Istanbul, was called “a coup attempt” by the […]
TRY: Turkish lira hits record low
- 19-Jul-2023
The Turkish lira (TRY) weakened more than 2% to a fresh record low against the US dollar (USD) on Tuesday over market concerns that the central bank might raise interest rates this week by less than previously expected. The lira hit a record low of 26.9 against the U.S. currency, sliding from Monday’s close of […]
Turkish lira hits record low
- 26-May-2023
The Turkish lira weakened to a record low of 20 against the dollar on Friday, ahead of this weekend’s presidential election runoff which will decide whether President Tayyip Erdogan extends his rule into a third decade. The lira touched 20.00 against the U.S. currency at 0508 GMT and continued to hover near that level. It […]
Turkish lira hits record low as bonds steady after post-election rout
- 19-May-2023
LONDON: Turkiye’s lira weakened to a record low against the dollar on Thursday, after incumbent Tayyip Erdogan’s lead in presidential elections surprised markets, while the nation’s sovereign dollar bonds steadied after a three-day post-election rout. The cost of insuring the country’s debt against default fell slightly, but equity markets and banking stocks endured fresh losses […]
Turkish Lira hits year low as Turkey holds interest rates
- 21-Jul-2022
ISTANBUL: The Turkish lira touched its low for the year on Thursday as the central bank once again refused to raise interest rates to combat spiralling inflation and support the troubled currency. The dollar was worth 17.67 liras when the central bank announced it was keeping its policy rate at 14 percent. The central bank […]
Turkish lira slides almost 8pc after intervention-driven surge
- 27-Dec-2021
The lira tumbled almost 8 per cent against the dollar on Monday amid persisting investor concern over Turkey’s monetary policy, having surged more than 50pc last week after billions of dollars of state-backed market interventions. The lira was also supported last week by a government move to cover FX losses on certain deposits. It weakened […]
Turkish lira caps historic week with big lift
- 24-Dec-2021
Turkey’s lira was on track for its strongest week on record on Friday, having spiked more than 50% with the support of billions of dollars of state-backed market interventions and a promise that the government would cover FX losses on certain deposits. Turks did not sell dollars on Monday and Tuesday, according to official data […]
Turkey boosts lira as central bank surprises markets with big rate hike
- 14-Sep-2018
ANKARA: Turkey’s central bank surprised markets on Thursday with a bigger than expected rate hike to battle soaring inflation and boost the lira, prompting the embattled currency to surge in value. Turkey has in recent weeks been battling through one of the most troubled periods for its economy under the rule of President Recep Tayyip […]
Currency crisis in Turkey – Qatar offers aid to Ankara
- 16-Aug-2018
ISTANBUL: The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira. The White House stance appeared to give Turkish authorities little incentive to […]