Page 5 - Turkey

Turkey's lira sinks to fresh low, prompting bank to intervene

It was the bank's fifth intervention in recent weeks to attempt to prop up the lira

Turkey cuts benchmark interest rate again, lira dips to historic low

Turkey's central bank cut the benchmark interest rate by another 100 basis points despite soaring inflation, sending the weakening national currency lira to a new historic low against the US dollar.

Turkey increases minimum wage by 50% amid soaring inflation

Turkey's minimum wage will be 4,250 Turkish liras ($272) in 2022, President Recep Tayyip Erdogan has said, announcing a nearly 50-per cent increase

Turkey slashes key rate by whopping 100 bps; lira sinks to new record low

The bank signalled it would pause the easing cycle to monitor its effects in the next three months

How low can you go? Here are five questions for Turkey's central bank

The bank has slashed its key rate by 400 basis points to 15% since September as part of Erdogan's plan to prioritise exports and lending

Turkish Lira hits new low, dragging central bank to the rescue

The central bank announced its fourth market intervention in two weeks

Turkey's new Finance minister meets businesspersons amid currency crisis

Nebati briefed the business people about the steps to be taken to increase investment, production, and employment

Turkey reports 19,357 new coronavirus cases; tally rises to 8,901,117

A total of 350,937 tests were conducted over the past day

Turkish inflation accelerates to highest level since 2018 on lira woes

Monthly inflation was 3.51 per cent, compared with the median estimate of 3 per cent in a separate survey

Explainer: Turkey's currency Lira is crashing. What's the impact?

Turkish Lira has been plunging to all-time lows against the US dollar and the euro

Turkey's President Erdogan replaces finance minister as lira crashes

Erdogan named Nureddin Nebati, who was deputy minister, to the post, according to an announcement published in the Official Gazette

Erdogan replaces Finance Minister amid record drop in Turkish Lira

Elvan was appointed to the post of finance minister in November 2020 following the resignation of Erdogan's son-in-law, Berat Albayrak, who previously held this post.

Turkey's economy steams ahead of peers but inflation risks mount

Turkey's central bank has slashed 4 percentage points off borrowing rates since September

Soaring prices prompt concerns amid currency drop in Turkey

Turkish currency lira has lost about 40 per cent of its value this year against the US dollar, while the annual inflation hit almost 20 per cent in October

Turkey: Erdogan unbowed by critics, leaving little to stop lira's collapse

Two people familiar with internal discussions said some government officials are uncomfortable with Erdogan's rate-cutting strategy and told him this

Apple turns customers away at retail stores in Turkey amid currency crash

Apple recently stopped selling products online to customers in Turkey as the Turkish lira continues to crash

Turkish lira takes breather from the worst nosedive in 20 years

The lira's rebound comes after an 11-day slide

Lira falls 15% to historic low as President Erdogan defends rate cut

The currency fell 15 per cent on Tuesday, plunging past 13 per dollar for the first time ever

Lira weakens past 12 per dollar after Erdogan defends low rates

Turkey's decision to slash 4 percentage points off borrowing rates since September has rattled markets

Turkey 'common denominator' of region's troubles: Greek foreign minister

Nikos Dendias accused Belarus of copying tactics used by Ankara last yr when a tense stand off at the Greek-Turkish land border was triggered by arrival of thousands of migrants, asylum seekers