| 单词 | lira |
| 例句 | “We’ll have over three thousand lire. He must be a splendid horse.” A Farewell To Arms 1929-09-02T00:00:00Z Prosper leafed through the compartments but there were only a few one thousand lire notes tucked in between crumpled receipts, restaurant bills, and used vaporetto tickets. The Thief Lord 2002-09-01T00:00:00Z “How much money have you? “Twenty-five hundred lire.” A Farewell To Arms 1929-09-02T00:00:00Z "Well, I admit, there are a couple of quite decent items here this time. So I’ll offer you,” he opened his eyes again, "one hundred thousand lire. And I'm still doing you a favor.” The Thief Lord 2002-09-01T00:00:00Z We put a hundred lire on number five to win and a hundred to place and then had another whiskey and soda apiece. A Farewell To Arms 1929-09-02T00:00:00Z He imagined all the cakes he could buy for one hundred thousand lire. The Thief Lord 2002-09-01T00:00:00Z The race was for horses that had never won a race worth one thousand lire or more. A Farewell To Arms 1929-09-02T00:00:00Z “Give them five lire apiece and five lire for yourself. My papers are in the other pocket. You may give them to the nurse.” A Farewell To Arms 1929-09-02T00:00:00Z Catherine had a little over twelve hundred lire. A Farewell To Arms 1929-09-02T00:00:00Z “Five million lire for a broken wooden wing?” The Thief Lord 2002-09-01T00:00:00Z Some nights, a friend and drinking-companion of mine of the Patriot forces, a Mr. G—ing, would seek out my lire and would conduct me back to his regiment, with whom I had briefly served. The Astonishing Life of Octavian Nothing, Traitor to the Nation, Volume I: The Pox Party 2006-09-12T00:00:00Z “Twelve lire for ten. It’s not worth it. My wife lost twenty lire.” A Farewell To Arms 1929-09-02T00:00:00Z One evening I was short of money and George loaned me a hundred lire. A Farewell To Arms 1929-09-02T00:00:00Z It certainly didn't look like the kind of place that would contain a treasure that was worth five million lire. The Thief Lord 2002-09-01T00:00:00Z “Not even a whole angel, just a wing. And that’s supposed to be worth five million lire?” The Thief Lord 2002-09-01T00:00:00Z We sat against the wall while the cook stoked the welcome flames of the breakfast lire. The Astonishing Life of Octavian Nothing, Traitor to the Nation, Volume I: The Pox Party 2006-09-12T00:00:00Z We all agreed we ought to back him and pooled one hundred lire. A Farewell To Arms 1929-09-02T00:00:00Z “Of course,” said Catherine, “if it hadn’t been crooked we'd never have backed him at all. But I would have liked the three thousand lire.” A Farewell To Arms 1929-09-02T00:00:00Z I paid him when it was over and tipped him half a lira. A Farewell To Arms 1929-09-02T00:00:00Z “You have to put up two hundred lire to make twenty,” he said. A Farewell To Arms 1929-09-02T00:00:00Z An earlier version of this article cited incorrectly the exchange rate between Turkish lira and the U.S. dollar. The Other Side of Istanbul 2018-09-18T04:00:00Z He probably sold it for a few lira type coins back in his day... Leonardo da Vinci Painting Sells for $450.3 Million, Shattering Auction Highs 2017-11-15T05:00:00Z At the start of the year £1 bought you five Turkish lira, now it’s close to seven. Back from the brink: new breath for tourism in Istanbul 2018-12-02T05:00:00Z Meal for two, without drinks, about 65 lira. Pursuits: Hunting the Bounty of Turkish Markets 2013-05-24T17:13:27Z A two-scoop cone runs 5 lira; I went with bitter chocolate and walnut, both of which were excellent. The Other Side of Istanbul 2018-09-18T04:00:00Z He keeps about 200 pigeons - together worth about 50,000 lira - in lofts fitted with alarms and closed circuit TV cameras. Prized pigeons fetch high prices at famed Turkish auction 2017-01-13T05:00:00Z Entrance to the Pera and the exhibition “Coffee Break: The Adventure of Coffee in Kutahya Tiles and Ceramics” is 15 lira, or $6.70, or free on Fridays from 6 to 10 p.m. In Turkey, a Display of a Coffee Ritual 2014-10-08T04:00:00Z You will not be disappointed if you suspect that, when Nahil and Ismail are in a small room with a pile of Turkish liras and a fireplace, the money will find the flames. Winter Sleep: Can a Three-Hour-Plus Prize-Winner Be Just Pretty Good? 2014-05-24T04:00:00Z Without another choice, I reluctantly dug into my bag, and withdrew five U.S. dollars, crumpled among my Turkish liras. The crime of being Armenian: Sick, dehydrated, I was following my grandfather’s path through Syria as he fled the Turks. How must he have suffered? 2016-01-17T05:00:00Z An average meal for two, without drinks or tip, costs around 200 Turkish lira, or $134 at 1.5 lira to the dollar. The Europe Issue?: Destination Dining in Department Stores 2011-04-15T18:55:00Z The same waiter was there, and I ordered an amaretti, removing the secret stash of lire from underneath my habit. Fiction: The Autobiography of Allegra Byron 2012-07-21T16:00:00Z The 20 lira entrance fee includes a tour in English. 36 Hours in Istanbul, Asian Side 2015-08-26T04:00:00Z There are pickle varieties to awe any fermentation fan, as well as some comically large loaves of bread, which in turn are just past crisp green plums selling for just 3 lira per kilo. The Other Side of Istanbul 2018-09-18T04:00:00Z Also, the figures quoted in lire in the Italian version are converted directly into euros in the English version – so a billion lire becomes a billion euros, which is completely wrong. Paul Theroux on travelling 2012-06-25T11:00:00Z Dinner for two with wine, about 300 lira. 2010-02-06T04:55:00Z For just 6 lira, I enjoyed a huge lahmacun covered in tomato, herbs and pleasingly funky lamb ground nearly to a fine paste. The Other Side of Istanbul 2018-09-18T04:00:00Z Dinner for two: 70 lira without drinks or tip. A Turkish Idyll Lost in Time 2011-07-08T19:03:11Z “I was fined millions of lira and given a four months suspended sentence.” Ruggero Deodato, Whose ‘Cannibal Holocaust’ Enraged, Dies at 83 2023-01-09T05:00:00Z A meal for two, without drinks, runs about 2,500 lira. 36 Hours in Damascus 2010-12-03T15:37:00Z Rates start at 95 lira a person in high season. Overnighter: On a Turkish Isle, Winds Tend the Vines 2012-07-06T16:52:12Z I bought a jacket and a few teacup saucers, bargaining from 60 lira down to 45. The Other Side of Istanbul 2018-09-18T04:00:00Z Meal for two, without drinks, about 90 lira. Pursuits: Hunting the Bounty of Turkish Markets 2013-05-24T17:13:27Z “They wanted a ransom of half a million Maltese lire.” The Maltese priest and the kidnapped Caravaggio: The amazing true story of the scrappy octogenarian who busted an audacious art heist 2016-12-04T05:00:00Z Lunch for two with wine, about 150 lira. 2010-02-06T04:55:00Z Expect an entry fee of around 25 lira. A Turkish Idyll Lost in Time 2011-07-08T19:03:11Z The no-frills, shared bathroom accommodations are tidy and a good value, and are 25 to 50 lira per night. Next Stop: Peace, Love and Views in Turkey?s Kabak Valley 2010-06-24T18:18:00Z Italy at the time was using the lira. Sophia Loren wins 40-year battle with Italian tax man 2013-10-24T12:54:09Z I passed stalls of pants from 30 lira and shirts from 10 lira, while stepping over boxes of baby chicks and ducks for sale. The Other Side of Istanbul 2018-09-18T04:00:00Z To my great delight, Paolo had managed to secure an attic room for me at an amazingly cheap price – the equivalent in lire of roughly £1 per night. Once upon a life: Paul Bailey 2011-01-09T00:05:19Z If you say yes again, the next time you meet he will ask if you might lend him a few pounds, a few liras, a few francs. Imagined Meetings With Joyce, Dickens, Hardy, and Lawrence 2015-09-15T04:00:00Z Meal for two, without drinks, about 95 lira. Pursuits: Hunting the Bounty of Turkish Markets 2013-05-24T17:13:27Z A sandwich and a drink costs around 15 lira. 36 Hours in Izmir, Turkey 2013-08-21T21:03:40Z The television channel was fined 17,000 Turkish liras for the clip. Turkey fines TV channel for Pink's video with dancing of... 2018-09-13T04:00:00Z A meal for two with drinks is 150 lira. 36 Hours in Izmir, Turkey 2013-08-21T21:03:40Z A three-course dinner for two with drinks costs around 120 lira. 36 Hours in Izmir, Turkey 2013-08-21T21:03:40Z Then, as I was leaving, he talked me into buying an old peppermill-style coffee grinder for 15 lira, which he carefully wrapped in newspaper. The Other Side of Istanbul 2018-09-18T04:00:00Z Nicotra was convicted, fined 2,400 lire and sentenced to two years in prison. Galileo Forgery’s Trail Leads to Web of Mistresses and Manuscripts 2022-09-09T04:00:00Z Other decent spots I peeked into were the Princess Hotel for 50 lira a night and the chic-looking Yesemek for 60. Frugal Traveler: Into Pistachio Country, in Southeastern Turkey 2011-07-12T19:47:32Z The show’s host teased him mercilessly, but Renzi walked away with more than 48 million lire, about 25,000 euros or $27,500 today. Meet Matteo Renzi — the Justin Trudeau of Italy and the Obamas’ final state dinner honoree 2016-10-14T04:00:00Z The South African rand is set to gain less than 1% while the Turkish lira is set to fall around 16% in a year. Emerging market currencies to claw back ground in 2024 as dollar fades: Reuters poll 2023-11-08T05:00:00Z The depreciation of the Argentinian peso and the Turkish lira also had a negative impact on the quarter that mostly offset Renault raising its vehicle prices and reining in consumer discounts. Slowdown in Renault's sales volumes hits shares 2023-10-19T04:00:00Z The Turkish lira — which has lost some 30% of its value against the U.S. dollar since the start of the year — dropped slightly against the greenback Thursday. Turkey’s central bank hikes interest rates again in further shift in economic policies 2023-09-21T04:00:00Z Turks began using cryptocurrencies as a defence against a deep slide in the value of the lira that began more than two years ago. Thodex cryptocurrency boss jailed for 11,196 years in Turkey for fraud 2023-09-08T04:00:00Z Turkey has faced serious economic strains, with forex reserves depleted and the lira having tumbled in recent years. Turkey's economic programme has Erdogan's full support, Simsek says 2023-09-07T04:00:00Z But they said depositors were cautious about moving funds into lira deposit accounts just yet given expectations that deposit rates will rise more. Most Turkey depositors returned to forex after leaving lira scheme 2023-09-04T04:00:00Z “It looks like orthodox Erdogan is back,” said Van Eck’s head of active EM debt Eric Fine, adding that the firm was upbeat on Turkey’s lira bonds for the first time in quite a while. Emerging markets beaten back in August as China chills the mood 2023-08-31T04:00:00Z Turkey's lira gave back only some of Thursday's gains after its central bank shocked with a 750 basis point interest rate to 25%. Morning Bid: Dollar rockets as Powell trumps AI 2023-08-25T04:00:00Z The same amount is now worth about $13m because of rampant inflation and the lira's collapse on the international markets. Thodex cryptocurrency boss jailed for 11,196 years in Turkey for fraud 2023-09-08T04:00:00Z Hatzigeorgiou says he often finds bags and backpacks with Turkish liras or packets of medicine in Turkish discarded around the village by people on the move. On a charred migrant trail, Greek firefighters find 18 bodies 2023-08-25T04:00:00Z According to one of the bankers, 20% of the KKM accounts that were initially converted to lira from foreign currency were ended in August. Most Turkey depositors returned to forex after leaving lira scheme 2023-09-04T04:00:00Z South Africa’s rand is down, Turkey’s lira is up and China’s yuan and Malaysia’s ringgit are down for a fourth month in the last five. Emerging markets beaten back in August as China chills the mood 2023-08-31T04:00:00Z Elsewhere, the Turkish lira stood at 27.2200 against the dollar ahead of Turkey's central bank rate decision for August, due at 1100 GMT. Dollar edges up ahead of Jackson Hole, Turkey rates in focus 2023-08-24T04:00:00Z Its currency, the lira, which had been pegged at 1,500 to the dollar for a quarter century, now goes for around 90,000 on the black market. Four years into crisis, Lebanon’s leaders hope tourism boom will help bypass reforms in IMF bailout 2023-08-22T04:00:00Z In July, consumer prices soared nearly 10% sequentially due to tax hikes and a lira crash. Turkey inflation: Erdogan's policy U-turn tests patience 2023-08-10T04:00:00Z Of those, around two thirds were converted back to forex while the rest moved into regular lira accounts, according to three bankers. Most Turkey depositors returned to forex after leaving lira scheme 2023-09-04T04:00:00Z The Turkish central bank introduced 15% required reserves for FX-protected lira deposits, a table published on Official Gazette showed early on Friday. Italian police net record 5-tonne cocaine haul off Sicilian coast 2023-07-21T04:00:00Z The Turkish central bank introduced 15% required reserves for FX-protected lira deposits, a table published on Official Gazette showed early on Friday. Zelenskiy dismisses Ukraine's ambassador to Britain 2023-07-21T04:00:00Z The lira incomes of public sector workers and pensions of retirees, who together make up a large sector of the population, have become nearly worthless. Four years into crisis, Lebanon’s leaders hope tourism boom will help bypass reforms in IMF bailout 2023-08-22T04:00:00Z The Turkish central bank introduced 15% required reserves for FX-protected lira deposits, a table published on Official Gazette showed early on Friday. Russian navy rehearses firing rockets at ships in Black Sea after warning to Ukraine 2023-07-21T04:00:00Z The central bank is spearheading the pivot to more orthodox policies after a series of lira crashes and soaring inflation. Most Turkey depositors returned to forex after leaving lira scheme 2023-09-04T04:00:00Z The Turkish central bank introduced 15% required reserves for FX-protected lira deposits, a table published on Official Gazette showed early on Friday. Philippines will not cooperate with ICC in drugs war probe - Marcos 2023-07-21T04:00:00Z Abu Dhabi agreed last year to a $5-billion swap deal in local currencies with Ankara to help its struggling lira. Turkey's Erdogan ends Gulf tour with Abu Dhabi visit 2023-07-19T04:00:00Z He later clarified that they were paid in Turkish lira, something that was later confirmed by the BBC’s press office. Representative of striking BBC Cairo staff accuses broadcaster of ‘gross discrimination’ 2023-07-18T04:00:00Z The Turkish lira weakened more than 2% to a fresh record low against the dollar on Tuesday over market concerns that the central bank might raise interest rates this week by less than previously expected. South Korea challenges arbitration ruling that found for Elliott in Samsung merger case 2023-07-18T04:00:00Z More will shift into plain lira accounts - rather than dollars - as that happens, they added. Most Turkey depositors returned to forex after leaving lira scheme 2023-09-04T04:00:00Z The nation's lira currency has plumbed record lows against the US dollar this summer. Turkey's deepening economic crisis prompts Erdogan to look West 2023-07-14T04:00:00Z Turkey's lira slid again to record lows after the central bank took steps to simplify rules governing lenders' holdings and foreign deposits after a sharp but underwhelming interest rate rise last week. Morning Bid: World markets calm after Russia drama 2023-06-26T04:00:00Z Given the new appointments, many analysts had expected an even bolder rate hike, and the value of the lira continued to slide after the new rate was announced. In Turkey, Erdogan Signals Shift to Conventional Economics 2023-06-22T04:00:00Z Experts also say the central bank has depleted its foreign currency reserves as it tried to prop up the Turkish lira ahead of elections last month. Turkey’s central bank sharply raises interest rates. That could signal an economic turnaround 2023-06-22T04:00:00Z Separately, according to first-half balance sheet data from some banks and economists' calculations, three quarters of the $127.6 billion held in the KKM system had been initially converted from foreign currency rather than from lira. Most Turkey depositors returned to forex after leaving lira scheme 2023-09-04T04:00:00Z President Erdogan's problem is that Turkey's inflation rate remains stubbornly high and its central bank's reserves have fallen to critically low levels, after it spent billions of dollars trying to prop up the lira. Turkey's Erdogan set for economic U-turn and steep interest rate hike 2023-06-21T04:00:00Z In April, overall inflation hit an annual rate of 269%, despite the government downgrading the lira’s exchange rate to one-tenth of its value weeks before. Record inflation has hit even Lebanon's garbage. 'Trash just isn’t like it used to be' 2023-06-19T04:00:00Z The Turkish lira slid to another all-time low early on Monday ahead of Turkey's April current account data. Morning Bid: Markets drift ahead of central bank extravaganza 2023-06-12T04:00:00Z The Turkish lira has now weakened by around 20% against the dollar since the start of the year. Why Turkey’s currency is crashing after Recep Tayyip Erdogan got reelected 2023-06-09T04:00:00Z Turkey's ailing lira spiralled ever lower to new records as the government abandons support due to depleted reserves that were drained propping up the currency before the election. Morning Bid: Canadian cloud, rates markets checked 2023-06-08T04:00:00Z The lira also weakened by more than 7% against the euro on Wednesday. Turkish lira declines to record lows following start of Erdogan’s new presidential term 2023-06-07T04:00:00Z A can of Coke used to cost 750 lira, or half a dollar, which nearly everyone could afford. Record inflation has hit even Lebanon's garbage. 'Trash just isn’t like it used to be' 2023-06-19T04:00:00Z The Turkish lira plunged by more than 7 percent against the U.S. dollar after Mehmet Simsek, above, a newly appointed finance minister who has called for “rational” economic policy, took charge. Your Thursday Briefing 2023-06-08T04:00:00Z Here’s a look at the falling value of the lira, what lies ahead for the economy and how people have been affected: Why Turkey’s currency is crashing after Recep Tayyip Erdogan got reelected 2023-06-09T04:00:00Z The Turkish lira plunged 7 percent against the U.S. dollar as a newly appointed finance minister promising “rational” economic policy took charge. Your Thursday Briefing: A Dangerous Haze Across North America 2023-06-07T04:00:00Z Analysts say Erdogan’s government propped up the lira in the run-up to Turkey’s presidential and parliamentary elections last month, using foreign currency reserves to keep the exchange rate under control. Turkish lira declines to record lows following start of Erdogan’s new presidential term 2023-06-07T04:00:00Z Now it costs 9,000 lira according to the recently modified official exchange rate, or about 60 cents. Record inflation has hit even Lebanon's garbage. 'Trash just isn’t like it used to be' 2023-06-19T04:00:00Z The value of the Turkish lira as measured in dollars plunged Wednesday by more than 7 percent to a record low, signaling a potential shift in the government’s economic policy. Turkey’s Lira Falls to New Low as a New Economic Policy Forms 2023-06-07T04:00:00Z The Turkish lira tumbled to record lows against the dollar this week, first falling 7% on Wednesday and then 1.6% on Friday. Why Turkey’s currency is crashing after Recep Tayyip Erdogan got reelected 2023-06-09T04:00:00Z Some of the pain could be offset by the weaker lira spurring exports potentially adding to boost of the upcoming tourism season and the reconstruction spending in the wake of February's devastating earthquake. TRYing times: The slide and fall of the Turkish lira 2023-06-07T04:00:00Z The lira’s weakening suggested the government was slackening its control of the currency. Turkish lira declines to record lows following start of Erdogan’s new presidential term 2023-06-07T04:00:00Z Even more dire, shops and traders use an unofficial, street exchange rate that puts a can of Coke at the astronomical price of 55,000 lira. Record inflation has hit even Lebanon's garbage. 'Trash just isn’t like it used to be' 2023-06-19T04:00:00Z Wednesday’s drop in value was the largest since the lira crashed in December 2021. Turkey’s Lira Falls to New Low as a New Economic Policy Forms 2023-06-07T04:00:00Z The lira weakened by a limited 0.5% on Thursday amid reports that state banks were asked to resume selling foreign currency to prop up the currency. Why Turkey’s currency is crashing after Recep Tayyip Erdogan got reelected 2023-06-09T04:00:00Z A tumbling lira will fan fears over a fresh spike in inflation in the country which only last year saw it top 80%. TRYing times: The slide and fall of the Turkish lira 2023-06-07T04:00:00Z The lira has undergone a series of crashes in recent years and hit new all-time lows in the days after the vote. Turkey's Erdogan to take oath, name new-look cabinet 2023-06-03T04:00:00Z “A person selling aluminum cans made 20 cents a kilo. That was 300 lira, so no one cared,” AlSet said. Record inflation has hit even Lebanon's garbage. 'Trash just isn’t like it used to be' 2023-06-19T04:00:00Z Over the past two years, the value of the lira has declined 60 percent against the dollar; a lira is now worth only 4.3 cents. Turkey’s Lira Falls to New Low as a New Economic Policy Forms 2023-06-07T04:00:00Z On Friday, the lira depreciated to another all-time low of 23.54 to the dollar. Why Turkey’s currency is crashing after Recep Tayyip Erdogan got reelected 2023-06-09T04:00:00Z "It's just so inevitable," Abrdn's head of local currency emerging market debt, Kieren Curtis, said referring to the lira's slump this week. TRYing times: The slide and fall of the Turkish lira 2023-06-07T04:00:00Z But his strategy is also fueling inflation, now running at an annual rate of 44 percent, and eroding the value of the Turkish lira. For Turkey, Erdogan Victory Brings More Risky Economic Policy 2023-06-02T04:00:00Z The national minimum wage for private employees is now 9 million lira per month — equivalent to approximately $93 on the street. Record inflation has hit even Lebanon's garbage. 'Trash just isn’t like it used to be' 2023-06-19T04:00:00Z The tactic undermined investors’ confidence in the independence of the central bank, which caused the value of the lira to fall further. Turkey’s Lira Falls to New Low as a New Economic Policy Forms 2023-06-07T04:00:00Z “Loose interventions, combined with some uncertainty, created an excessive depreciation in the lira in one day,” Sengul said about the Wednesday drop. Why Turkey’s currency is crashing after Recep Tayyip Erdogan got reelected 2023-06-09T04:00:00Z He did add however that the compensation would be paid to depositors in lira rather than dollars or euros and that bill would be split between the Treasury and Central Bank. TRYing times: The slide and fall of the Turkish lira 2023-06-07T04:00:00Z As the lira’s value drops, the price of imported goods — like medicine, energy, fertilizer and automobile parts — rises, making it more expensive for consumers to afford daily costs. For Turkey, Erdogan Victory Brings More Risky Economic Policy 2023-06-02T04:00:00Z The lira hit a record low after the incumbent president prevailed in a runoff, extending his rule into a third decade. Following Setbacks, Climate Activists Rethink Their Approach 2023-05-30T04:00:00Z That is why the government did everything it could to protect the lira’s value before the presidential election, Mr. Tastan said. Turkey’s Lira Falls to New Low as a New Economic Policy Forms 2023-06-07T04:00:00Z She is worried that this week’s sharp decline in the lira will lead to further price increases and even more financial uncertainty for her. Why Turkey’s currency is crashing after Recep Tayyip Erdogan got reelected 2023-06-09T04:00:00Z Ankara has seen decades of financial market difficulties and the charts below show the challenges the lira's weakness poses for the country's new economic decision makers. TRYing times: The slide and fall of the Turkish lira 2023-06-07T04:00:00Z An effort to encourage Turks to keep their savings in lira by guaranteeing their balances against currency depreciations further adds to the government’s potential liabilities. For Turkey, Erdogan Victory Brings More Risky Economic Policy 2023-06-02T04:00:00Z The Turkish lira plunged against the dollar Monday, though stocks rallied. With new mandate secured, Turkey’s Erdogan likely to continue engaging with both West and Russia 2023-05-28T04:00:00Z Because the previous exchange rate was a result of government manipulation, Mr. Tastan said, “probably we will see the Turkish lira’s value go down further.” Turkey’s Lira Falls to New Low as a New Economic Policy Forms 2023-06-07T04:00:00Z "With limited FX reserves and massively negative real interest rates the pressure on the lira is heavy." Turkish lira teeters near record low as Erdogan secures victory 2023-05-29T04:00:00Z The lira slipped to a record low of 20.065 against the dollar. Turkey's Erdogan triumphs in election test, extending his 20-year rule 2023-05-29T04:00:00Z The Turkish lira has hit record lows against the dollar and the central bank has struggled to meet surging demand for foreign currency. Erdogan hails election victory but Turkey left divided 2023-05-28T04:00:00Z The central bank has used foreign reserves to prop up the lira; in the past week those reserves plunged into the negative for the first time, Demiralp said. Turks choose their president in unprecedented runoff race 2023-05-28T04:00:00Z The Turkish lira has hit record lows, demand for foreign currency has surged and the central bank's net foreign currency reserves are in negative territory for the first time since 2002. Turkish presidency run-off decides if Erdogan should have five more years 2023-05-27T04:00:00Z Economists say Erdogan's calls for low rates sent inflation soaring to a 24-year high of 85% last year, and the lira slumping to one tenth of its value against the dollar over the last decade. Explainer: Turkey election 2023: What's at stake in the runoff? 2023-05-26T04:00:00Z The lira has shed almost 80% of it value to the dollar in five years largely due to Erdogan's economic policies, economists say. Exclusive: Erdogan party split on economic plan as Turkey runoff looms, sources say 2023-05-24T04:00:00Z “Working Turks will feel poorer when the lira falls in value,” he said of the local currency. For the Winner in Turkey, One Prize Is an Economy at the Edge of Crisis 2023-05-23T04:00:00Z Kilicdaroglu appealed to young voters with references to the cost-of-living crisis, which in Turkey has been much exacerbated by Erdogan's insistence on cutting interest rates, causing a sharp slide in the lira and soaring inflation. Erdogan rival appeals to Turkish youth ahead of runoff vote 2023-05-16T04:00:00Z People cannot afford new dresses so she is earning much more, even if her monthly rent has trebled to to 4,000 lira. Turkish presidency run-off decides if Erdogan should have five more years 2023-05-27T04:00:00Z The lira has hit a two-month low against the dollar, and trading in Turkish blue-chip stocks was briefly halted to stop the market from going haywire. Morning Bid: Debt ceiling jitters, Turkey vote, Soros ditches Tesla 2023-05-15T04:00:00Z Fitch said Turkey's "B negative" credit rating depends on whether the post-election policy "becomes more credible and consistent" given the pressure on the lira, wide current account deficit, declining reserves and high inflation. Exclusive: Erdogan party split on economic plan as Turkey runoff looms, sources say 2023-05-24T04:00:00Z At the same time, the government has heavily intervened to slow the decline of the Turkish lira, mostly by selling foreign exchange reserves. For the Winner in Turkey, One Prize Is an Economy at the Edge of Crisis 2023-05-23T04:00:00Z Last year, workers conserving adult shoes found an Italian 100 lire banknote in a lady’s high-heeled shoe that was also imprinted with the name Ranzini, which was a shoe manufacturer in Trieste. Auschwitz museum begins emotional work of conserving 8,000 shoes of murdered children 2023-05-15T04:00:00Z The opposition had expected to benefit from voter anger at economic woes after an unorthodox policy of low interest rates triggered a lira crisis and soaring inflation. Turkey faces election runoff, Erdogan seen with momentum 2023-05-15T04:00:00Z The lira dipped to the lowest since March, when it was reeling in the aftermath of devastating earthquakes. Morning Bid: Debt impasse dominates in big day for politics 2023-05-15T04:00:00Z Turkey's lira slipped to a fresh two-month low as financial markets kicked off trading in the wake of the country's Sunday presidential and parliamentary election with the race for presidency appearing headed for a runoff. China launches projects to build 'new-era' marriage, childbearing culture 2023-05-15T04:00:00Z The Turkish lira sank to a two-month low after weekend elections looked headed for a runoff, while the Thai baht rallied almost 1% after Thailand's opposition routed military-allied parties also in weekend polls. Dollar hits 5-week high on inflation worries; lira drops, baht soars 2023-05-15T04:00:00Z Turkey's lira slipped to a fresh two-month low as financial markets kicked off trading in the wake of the country's Sunday presidential and parliamentary election with the race for presidency appearing headed for a runoff. Argentina's ruling Peronist party wins provincial elections 2023-05-15T04:00:00Z In emerging markets, the Turkish lira touched a fresh two month low of 19.70 to the dollar as the country appeared headed for a runoff presidential election. Asian shares braced for China data, Fed speakers 2023-05-15T04:00:00Z Economists say Erdogan's calls for low interest rates sent inflation soaring to 85% last year, and the lira slumping to one tenth of its value against the dollar over the last decade. Factbox: Turkey elections 2023: what you need to know 2023-05-14T04:00:00Z They have been battered by crippling inflation, a collapsing lira and a sharp decline in living standards, compounded by the devastating February earthquake that killed more than 50,000 people and left millions homeless. -Turkey's Erdogan, master campaigner, faces toughest contest yet 2023-05-12T04:00:00Z Mr. Dervis had been working in various posts for the World Bank for two decades when, in early 2001, prices in Turkey began skyrocketing and the currency, the lira, plunged in value. Kemal Dervis, Who Eased Turkey’s Economic Crisis, Dies at 74 2023-05-11T04:00:00Z Instead, the value of the Turkish lira nosedived, and the rate cuts exacerbated a cost of living crisis. Domestic issues give Turkey’s Erdogan a tough election race 2023-05-11T04:00:00Z Inflation soared, as interest rates were kept low - while Turkey's currency the lira depreciated to improve the trade balance and boost exports. Turkey elections: Erdogan and Kilicdaroglu offer stark choices for presidency 2023-05-09T04:00:00Z His foreign currency loans also multiplied in lira terms as the currency fell. 'We can't afford anything': Turkey's cost-of-living crisis threatens Erdogan's re-election 2023-05-08T04:00:00Z The government says its rate cuts boosted exports and investments as part of a programme that encouraged lira holdings. Analysis: In Turkey, an election reckoning for the rise and fall of Erdogan's economy 2023-05-08T04:00:00Z The government says the policy stoked exports and investment as part of a programme encouraging lira holdings. Turkey's Kilicdaroglu exits Erodogan's shadow in election race 2023-05-06T04:00:00Z Policies that interfere with a floating exchange rate would end, including a government scheme that protects lira deposits against currency depreciation. Factbox: How Turkey's opposition plans to roll back Erdogan's policies 2023-05-06T04:00:00Z "Now, one kilogram of onion is 30 liras," he said. Turkey election: Erdogan rival Kilicdaroglu promises peace and democracy 2023-05-04T04:00:00Z The lira and peso have been plunging and are at record lows. Cryptoverse: Digital coins lure inflation-weary Argentines and Turks 2023-05-02T04:00:00Z Inflation that was in triple digits a decade earlier cooled, boosting the Turkish lira's appeal. Analysis: In Turkey, an election reckoning for the rise and fall of Erdogan's economy 2023-05-08T04:00:00Z The inflation surge was fed by a lira slide as the central bank slashed interest rates in an unorthodox policy championed by Erdogan. Foreign investors set sights on Turkey after elections 2023-04-19T04:00:00Z The lira has shed 80% of its value versus the dollar in five years, a period in which foreign investors largely fled the big emerging market. Analysis: Erdogan tries to salvage economic credibility before Turkey's election 2023-03-22T04:00:00Z "If he stays it will be 100 liras." Turkey election: Erdogan rival Kilicdaroglu promises peace and democracy 2023-05-04T04:00:00Z Turkey's residents have also increasingly favoured buying gold to shield themselves from rampant inflation and a steep decline in the value of the Turkish lira in recent years. Turkey earthquake survivors search rubble for their gold savings 2023-03-07T05:00:00Z The lira's value has since plunged - including by 80% versus the dollar in the last five years - sapping Turks' purchasing power. Analysis: In Turkey, an election reckoning for the rise and fall of Erdogan's economy 2023-05-08T04:00:00Z Turkey has been struggling with high inflation and a weakening lira even before the Feb. 6 earthquake and many of its strong aftershocks. Saudi Arabia says it deposited $5B in Turkish central bank 2023-03-06T05:00:00Z They have promised to end policies that interfere with a floating exchange rate, including a government scheme that protects lira deposits against currency depreciation. Factbox: Turkey's anti-Erdogan bloc vows to reverse his legacy 2023-03-06T05:00:00Z Mexico's peso, closely linked to the prospects of the U.S. dollar, and the Turkish lira, are the only two emerging market currencies covered by the poll expected to weaken. China's reopening set to help EMFX get back on track: Reuters poll 2023-03-03T05:00:00Z Last year's strong rouble and weak Turkish lira played into Russian consumers' hands. Top brands pull out of Russia, but their goods remain easy to find 2023-02-22T05:00:00Z Analysts say cracks then started emerging in its policies, including pressure on the central bank to slash rates even as the lira tipped into crisis in 2018 and late 2021. Analysis: In Turkey, an election reckoning for the rise and fall of Erdogan's economy 2023-05-08T04:00:00Z Although that approach has helped stabilize the lira’s free fall — a dollar now buys nearly 19 lira, compared with 13.50 a year ago — it has come at a high price. Turkey’s Reeling Economy Is an Added Challenge for Erdogan 2023-02-19T05:00:00Z While sanctions have certainly contributed to stunting government expenditures and the Syrian lira’s depreciation, they have had no significant bearing on the delivery of humanitarian assistance. Opinion | Lifting sanctions on Syria won’t help earthquake victims 2023-02-09T05:00:00Z The fines brought in billions of Turkish lira in taxes and fees. Turkey earthquake failures leave Erdogan looking vulnerable 2023-02-10T05:00:00Z Meanwhile, a deadly earthquake killed more than 3,700 people across a swathe of Turkey and northwest Syria, sending Turkey's lira to a record low. Morning Bid: Market to ChatGPT: what's Powell gotta say? 2023-02-07T05:00:00Z The value of the Turkish lira dropped before recovering slightly, and Turkey’s stock markets tumbled. Powerful Quake Strikes Turkey and Syria, Killing More Than 3,800 2023-02-06T05:00:00Z The Turkish lira lost nearly 30 percent of its value against the dollar in the past year as inflation soared, severely damaging Turks’ purchasing power and hurting Mr. Erdogan’s popularity. Turkey’s Reeling Economy Is an Added Challenge for Erdogan 2023-02-19T05:00:00Z Like an Old West poster, it offered a reward: up to 500,000 Turkish lira — approximately $27,000 — for information that would lead to my capture. Opinion | How Turkey pursues dissident exiles like me all over the world 2023-01-23T05:00:00Z Protesters burned tyres and held up handfuls of local currency bills on Wednesday at the entrance of the Lebanese central bank in Beirut, furious over the spiralling devaluation of the lira. Israeli army says it killed Palestinian in West Bank who tried to stab soldiers 2023-01-25T05:00:00Z Protesters burned tyres and held up handfuls of local currency bills on Wednesday at the entrance of the Lebanese central bank in Beirut, furious over the spiralling devaluation of the lira. Gaza fisherman gets new outboard engine after a decade's wait, as Israel relaxes curbs 2023-01-25T05:00:00Z Protesters burned tyres and held up handfuls of local currency bills on Wednesday at the entrance of the Lebanese central bank in Beirut, furious over the spiralling devaluation of the lira. Lebanese protest record-low value of local currency 2023-01-25T05:00:00Z Fifty thousand Lebanese lira are now worth just $1 on the country's parallel market, or black market. Lebanon MPs sit in as 11th vote for president fails 2023-01-20T05:00:00Z When she was summoned to the Cinecitta studios, the hub of Italian cinema, she was offered 1,000 lire to sign. Gina Lollobrigida, known as the face of la dolce vida (Italian film), has died 2023-01-16T05:00:00Z The country has grappled with surging living costs and a plunging currency, with the lira falling to a record low against the dollar in recent days. What investors watch out for in emerging markets in 2023 2022-12-28T05:00:00Z "This year we have seen a 17-fold increase in turnover in Turkish lira, partly due to demand for the Turkish currency from tourists," said Kirill Pestov, managing director of the exchange's business development department. Moscow Exchange says 2022 trading volumes surpassed $14.4 trillion 2022-12-20T05:00:00Z The Turkish lira has lost much of its value against the dollar, and year-on-year inflation is more than 80 percent, according to government figures. Turkey Bars Potential Challenger to President Erdogan From Politics 2022-12-14T05:00:00Z For years, the exchange rate stood at a steady 1,500 lira to the dollar. Lebanon MPs sit in as 11th vote for president fails 2023-01-20T05:00:00Z “I told them my asking price was 1 million lire, thinking that would put a stop to the whole thing,” Lollobrigida told Vanity Fair in 2015. Gina Lollobrigida, known as the face of la dolce vida (Italian film), has died 2023-01-16T05:00:00Z Turkish officials and analysts said jobs and GDP posed election wildcards for the president, whose pro-growth political reputation has been bruised in recent years as inflation soared and the lira cratered to historic lows. Turkey jobless rate rises ahead of tight election for Erdogan 2022-12-12T05:00:00Z Russians account for the largest number of tourists, a source of foreign exchange to help support the sinking value of the Turkish lira. Turkey Is Strengthening Its Energy Ties With Russia 2022-12-09T05:00:00Z More than half of working Turks earn around the minimum wage, which is worth less than $300 a month because of the Turkish lira’s vast devaluation against the dollar. Skyrocketing Prices in Turkey Hurt Families and Tarnish Erdogan 2022-12-05T05:00:00Z By 17, he was headed to America, bringing with him a few changes of clothing, a salami, some cheese, a small handful of lira and no English. ‘Salvatore: Shoemaker of Dreams’ review: Crafting art from the sole 2022-11-29T05:00:00Z Inflation has been running at its highest in 24 years, straining households and sapping earnings, while the Turkish lira is at record lows. Analysis: Bomb attack could ignite Erdogan's security-themed re-election campaign 2022-11-15T05:00:00Z In response to a currency crash a year ago, authorities adopted a policy of tightly controlling foreign exchange, and officials expect the lira to remain steady well into 2023. Turkey jobless rate rises ahead of tight election for Erdogan 2022-12-12T05:00:00Z The area rebounded this summer as the weak Turkish lira drew tourists to the country. Your Monday Briefing 2022-11-14T05:00:00Z As the lira has sunk, people have watched their salaries lose purchasing power and the value of their savings evaporate. Skyrocketing Prices in Turkey Hurt Families and Tarnish Erdogan 2022-12-05T05:00:00Z But the area rebounded this summer as the pandemic waned and the weak Turkish lira made Turkey an attractive tourist destination. Deadly Bombing in Istanbul Is Being Investigated as a Terrorist Attack 2022-11-13T05:00:00Z Inflation in October climbed to a 24-year high of 85.5%, having started to surge last year as the lira slumped after the central bank began cutting rates as sought by Erdogan. Turkey arrests bakers' union head for calling bread-eating societies 'stupid' 2022-11-09T05:00:00Z Turkey is also trying to boost trade using the lira, which has been hammered by unorthodox monetary policies. Turkey starts paying for some Russian gas in roubles 2022-11-08T05:00:00Z The Egyptian pound had strengthened against the euro, the British pound and the Turkish lira since the the Ukraine crisis. Egypt to develop new currency indicator to wean people off U.S. dollar 2022-10-23T04:00:00Z The Turkish lira has lost some 28% of its value against the U.S. dollar since the beginning of the year — on top of taking an even worse battering in 2021. Turkish central bank makes huge rate cut amid 83% inflation 2022-10-20T04:00:00Z Because he needs more lira to buy imported zippers and liners priced in dollars, he has to raise prices for the Turkish customers who struggle to pay him in the much-diminished local currency. ‘Bad situation’: Soaring U.S. dollar spreads pain worldwide 2022-10-17T04:00:00Z Turkish industrial production expanded 1% year-on-year in August, data showed on Wednesday, extending its rise for a 26th consecutive month against a background of surging inflation and lira weakness. Top Israeli ministers want Lebanon deal approved "urgently" 2022-10-12T04:00:00Z Turkish industrial production expanded 1% year-on-year in August, data showed on Wednesday, extending its rise for a 26th consecutive month against a background of surging inflation and lira weakness. Iran's Khamenei calls anti-government protests "scattered riots" designed by the enemy - Tasnim 2022-10-12T04:00:00Z Turkish industrial production expanded 1% year-on-year in August, data showed on Wednesday, extending its rise for a 26th consecutive month against a background of surging inflation and lira weakness. Lebanon to begin returning Syrian refugees to Syria next week - presidency 2022-10-12T04:00:00Z He has expressed his wish that interest rates go down to single digits and a belief that the lira would appreciate in value. Turkish central bank makes huge rate cut amid 83% inflation 2022-10-20T04:00:00Z Inflation has surged since November last year, as the lira slumped following cuts to the policy rate by the central bank, in an unorthodox easing cycle long sought by Erdogan. Turkey's Erdogan says will keep cutting rates "as long as I am in power" 2022-10-08T04:00:00Z Last month, Turkey’s central bank delivered another interest rate cut, lowering the benchmark rate to 12% despite rising prices, a plunging lira and an unbalanced current account. Turkey’s annual inflation hits new 24-year high at 83.45% 2022-10-03T04:00:00Z The Lebanese lira has lost more than 95 percent of its value since 2019. Migrant Boat Capsizes Off Syria, With Dozens Feared Dead 2022-09-23T04:00:00Z The government encouraged people to swap their dollars for the lira and place them in a deposit account that would give the interest rate plus any lira depreciation against the dollar. Turkish lira hits record low before central bank meeting 2022-09-22T04:00:00Z As their local currencies lose value against the dollar, it takes more Turkish lira or Argentine pesos to make debt payments. Global economy weakening amid inflation fight, war and lingering pandemic 2022-09-17T04:00:00Z The Lebanese lira currency has lost more than 95 percent of its value since 2019, reaching a new low this week of about 38,000 to the dollar. Desperate Clients Hold Up Lebanese Banks to Get Their Own Cash 2022-09-16T04:00:00Z The lira has lost over 50% of its value against the U.S. dollar since the central bank began cutting rates last year. Turkey’s annual inflation hits new 24-year high at 83.45% 2022-10-03T04:00:00Z Many more Lebanese would like to leave but cannot because they lost their life’s savings as the value of the local lira currency has fallen more than 90 percent since 2019. Oppressive Blackouts Force Lebanese to Change Rhythm of Life 2022-09-12T04:00:00Z Though the lira rebounded after that announcement to a high of 11.09, it steadily declined this year. Turkish lira hits record low before central bank meeting 2022-09-22T04:00:00Z On Friday, the central bank refused a request from banks to hold foreign exchange instead of long-term lira bonds. EXCLUSIVE Flurry of new rules leave Turkish banks struggling to lend -sources 2022-09-12T04:00:00Z Below are five charts showing effects of the monetary easing and ensuing lira crash: Bearing the scars: One year of Turkey's unorthodox easing cycle 2022-09-09T04:00:00Z Turkey's lira is down nearly 26% this year, in addition to the 44% it lost last year, as Turkey's central bank slashed interest rates even as inflation was soaring. Worst not over for EM currencies as U.S. dollar thunders on: Reuters poll 2022-09-07T04:00:00Z The central bank unexpectedly cut interest rates to 13% in August despite rising prices, a plunging lira and an unbalanced current account. Turkey’s annual inflation passes 80% after interest rate cut 2022-09-05T04:00:00Z The lira soared on hopes of a new direction for the beleaguered economy. Special Report-Insiders reveal how Erdogan tamed Turkey’s newsrooms 2022-08-31T04:00:00Z The manufacturing executive, who requested anonymity, said his company's equity needs had quadrupled in lira terms while commodity prices doubled in FX terms in the last two years. EXCLUSIVE Flurry of new rules leave Turkish banks struggling to lend -sources 2022-09-12T04:00:00Z Brent crude futures have risen by nearly a quarter since last September, though that translates into a 170% jump when oil prices are calculated in Turkish lira - well above the hit other EM economies absorbed. Bearing the scars: One year of Turkey's unorthodox easing cycle 2022-09-09T04:00:00Z There has been a boom in usage of digital currencies in Turkey fuelled by rising inflation and a slide in the lira currency. Fugitive Turkish crypto fraud suspect arrested in Albania resort 2022-08-30T04:00:00Z Russia’s invasion of Ukraine and the lira’s decline have stoked inflation. Turkey’s annual inflation passes 80% after interest rate cut 2022-09-05T04:00:00Z The lira has lost more than a quarter of its value this year and annual inflation is 80%, deepening poverty among Erdogan’s main working-class and lower-middle-class supporters. Special Report-Insiders reveal how Erdogan tamed Turkey’s newsrooms 2022-08-31T04:00:00Z Turkey's lira slid towards an all-time low on Friday as traders continued selling the currency after the previous day's surprise central bank interest rate cut in the face of near 80% inflation. UAE, upgrading ties with Iran, says envoy to return to Tehran within days 2022-08-21T04:00:00Z High oil prices also weigh on Turkey's current-account balance, potentially adding to further pressure on the lira. Bearing the scars: One year of Turkey's unorthodox easing cycle 2022-09-09T04:00:00Z Turkey's lira slid towards an all-time low on Friday as traders continued selling the currency after the previous day's surprise central bank interest rate cut in the face of near 80% inflation. Palestinians working in Israel strike over demand for bank accounts 2022-08-21T04:00:00Z The lira has plunged over 50% against the U.S. dollar since the central bank began cutting rates. Turkey’s annual inflation passes 80% after interest rate cut 2022-09-05T04:00:00Z The lira on Thursday broke through 18 to the dollar for the first time since December and was on track as of 1748 GMT for its weakest ever close of 18.06. Turkey's cenbank shocks with 100 basis point rate cut despite soaring inflation 2022-08-18T04:00:00Z The Turkish lira weakened by nearly 1% against the dollar shortly after Thursday’s central bank decision. Turkey lowers interest rate even as inflation soars to 80% 2022-08-18T04:00:00Z Progress internationally contrasts with a grim economic picture at home, with inflation soaring to 79% and the lira languishing near record lows it hit during the most recent currency crisis in December. Analysis: Erdogan plays up diplomatic gains with eye on elections 2022-08-09T04:00:00Z While China's tightly-controlled yuan and the Korean won were predicted to be range-bound over the next three to six months, the Indian rupee , South African rand , Russian rouble and Turkey's lira were expected to fall. POLL FX markets haven't seen last of dollar strength yet - analysts 2022-08-04T04:00:00Z The Turkish lira lost 44% of its value against the U.S. dollar last year, eroding people’s ability to buy even basic items. Inflation in Turkey rises to nearly 80%, hitting consumers 2022-08-03T04:00:00Z Turkey's lira was flat on Thursday near its weakest level since last December, as investors traded cautiously ahead of the central bank's policy-setting meeting where it is expected to stand pat on its benchmark rate. Israel's Supreme Court rules 'disloyal' citizens can be stripped of status 2022-07-21T04:00:00Z Turkey's lira was flat on Thursday near its weakest level since last December, as investors traded cautiously ahead of the central bank's policy-setting meeting where it is expected to stand pat on its benchmark rate. U.N. chief to visit Turkey as Ukraine grain export deal looms 2022-07-21T04:00:00Z Companies no longer needed to battle devaluations of the lira or large fluctuations in currency value with neighboring countries, and Geox could focus on innovation. Italy Is Haunted by the Pain of Past Economic Crises 2022-07-20T04:00:00Z The lira extended its recent losses on Thursday, weakening as far as 17.3, as the dollar's broad strength was compounded by worries about Turkey's soaring inflation and foreign exchange policy. U.S. envoy discusses hostility towards Jews with Saudi officials 2022-07-07T04:00:00Z The dollar was trading at 17.95 against the lira Wednesday, with the lira’s value some 25% lower than at the beginning of the year. Inflation in Turkey rises to nearly 80%, hitting consumers 2022-08-03T04:00:00Z The Turkish central bank is ready to source unlimited funding for lira rediscount credits extended to exporter companies, a source with knowledge of central bank actions said on Wednesday. U.S. issues sanctions related to Iran oil 2022-07-06T04:00:00Z The Central Bank resorted to using foreign reserves to fend off a currency crisis, after the beleaguered lira fell to all-time lows against the U.S. dollar euro in late 2021. Sri Lanka’s crisis rings alarm for other troubled economies 2022-07-05T04:00:00Z Last year's cut in interest rates from 19% to 14% has led to a fall in the value of the Turkish lira, which means it costs more for the country to import goods from abroad. Prices in Turkey rise at fastest pace for 24 years 2022-07-04T04:00:00Z The visit comes as Turkey's economy is badly strained by a slumping lira and inflation soaring beyond 70%. Saudi crown prince, Erdogan meet in Turkey with 'full normalisation' in sights 2022-06-22T04:00:00Z Yields on Turkey's bonds fell on Friday after the Treasury and other institutions announced measures to support an economy beleaguered by surging prices and a sliding lira. U.S. envoy to visit Lebanon, discuss Israel maritime talks -State Dept 2022-06-10T04:00:00Z Turkey's lira has lost nearly a quarter of its value this year as soaring inflation and the central bank's reluctance to raise interest rates stoke fears of another currency crisis. Wall St Week Ahead Dashed peak inflation hopes spell more pain for stocks and bonds 2022-06-10T04:00:00Z The central bank has used its foreign reserves to support the lira since the December crisis, prompting traders to call it a managed market or a "dirty float". Turkey's lira, bonds extend decline on inflation, rate cut concerns 2022-06-08T04:00:00Z Economists see inflation remaining high for the rest of 2022 due to the war, weakening lira and the central bank's reluctance to raise rates. Turkey's annual inflation soars to highest since 1998 2022-06-03T04:00:00Z The low value of the Turkish lira makes exports from the country relatively cheap, though economists say the country’s trade deficit is likely to continue because of the high cost of intermediate goods. Turkey today, Türkiye tomorrow: U.N. okays country’s request for change 2022-06-02T04:00:00Z Turkey's lira is down nearly 20% this year, in addition to the 44% it lost last year, as Turkey's central bank slashed interest rates even as inflation was soaring. Emerging market FX rallies seen short-lived due to high inflation: Reuters poll 2022-06-02T04:00:00Z Lebanon is in the throes of one of the world's worst economic meltdowns, according to the World Bank, with the local lira losing 90% of its value since 2019. 'Major confrontation' with Hezbollah ahead, says Lebanon Christian politician 2022-06-01T04:00:00Z The lira has been the worst performer in emerging markets for several years due largely to economic and monetary policy concerns under Erdogan's government. Turkey's lira, bonds extend decline on inflation, rate cut concerns 2022-06-08T04:00:00Z The central bank’s decision comes as the Turkish lira resumed its decline. Turkish central banks keeps rate at 14% despite inflation 2022-05-26T04:00:00Z Losses this month have pushed Turkey's lira back towards the record lows of 18.4 against the dollar which it hit in December after a series of interest rate cuts. Qatar Investment Authority cannot exit Russian market 2022-05-24T04:00:00Z Aras said Britons, Germans and the Dutch would be back, attracted by lira weakness, compensating for declines in Russian and Ukrainian visitors due to the war. Turkish tourism heats up, stoking hopes of economic recovery 2022-05-23T04:00:00Z They dumped the Turkish lira, pushing its value down roughly three-fourths by the end of last year. Poor Countries Face a Mounting Catastrophe Fueled by Inflation and Debt 2022-05-17T04:00:00Z "Recent comments on lowering interest rates may have accelerated the lira weakness, but there are many more fundamental reasons behind it," Akcakmak said. Turkey's lira, bonds extend decline on inflation, rate cut concerns 2022-06-08T04:00:00Z The lira has lost about 18% of its value against the dollar since the beginning of the year. Turkish central banks keeps rate at 14% despite inflation 2022-05-26T04:00:00Z Numbers were spiking, but because the Turkish lira was in free fall, the authorities were resisting the economic hardship of another lockdown. Returning to Istanbul, a Place of Competing Identities 2022-05-12T04:00:00Z "We are really a cheap destination now. Not only Bodrum but Turkey itself, whichhas again become a very attractive destination because of the weak lira," he said. Turkish tourism heats up, stoking hopes of economic recovery 2022-05-23T04:00:00Z By April, the lira was falling anew, and Turkey’s inflation rate was running at nearly 70 percent — its worst mark in two decades. Poor Countries Face a Mounting Catastrophe Fueled by Inflation and Debt 2022-05-17T04:00:00Z A soaring trade deficit, an accelerated drop in the central bank's foreign reserves, rising external financing costs and "unstoppable inflation" are all pressuring the lira, he added. Turkey's lira, bonds extend decline on inflation, rate cut concerns 2022-06-08T04:00:00Z The lira’s depreciation was slowed from a rapid fall in December when the government introduced unconventional measures instead of raising interest rates. Turkish central banks keeps rate at 14% despite inflation 2022-05-26T04:00:00Z One bank trader said more depreciation would be allowed so that the lira remains between 15.5 and 16 to the dollar, which has risen as the U.S. Traders see a method to Turkish lira's recent slide 2022-05-12T04:00:00Z The lira has halved in value over the last year, attracting notice in countries that have previously been only small sources of Turkish tourism. Turkish tourism heats up, stoking hopes of economic recovery 2022-05-23T04:00:00Z Aug. 26, 2019: The Turkish lira tumbled as investors cut risk exposure and briefly boosted the safe haven yen against the lira. Factbox-European 'flash crash' was latest of many globally over the past decade 2022-05-03T04:00:00Z At the end of last year, another currency crisis sparked by a series of rate cuts requested by Erdogan saw the lira fall as low as 18.4 before rebounding. Bloomberg reporters in Turkey acquitted over 2018 currency crisis article 2022-04-29T04:00:00Z The lira lost about 44% of its value against the dollar last year. Turkish central banks keeps rate at 14% despite inflation 2022-05-26T04:00:00Z The lira has returned to lows last hit in late December, after a series of unorthodox interest rate cuts sparked a currency crisis that rattled the economy. Traders see a method to Turkish lira's recent slide 2022-05-12T04:00:00Z Lebanon's financial meltdown has seen the lira lose 90% of its value since 2019 and people have been unable to access hard currency savings, hitting all sections of society. Man overseeing Lebanon vote frets about disruptions, vote buying 2022-04-29T04:00:00Z Official inflation stands at 61 percent while the lira has plummeted, falling 44 percent in value against the dollar in 2021. Turkey’s Erdogan travels to Riyadh for fence-mending effort 2022-04-27T04:00:00Z Turkey's economy has been ailing for years and a lira crisis erupted in late 2021 due to an unorthodox monetary policy backed by Erdogan. Analysis: Hobbled by economy, Erdogan heads to Saudi to mend ties after Khashoggi U-turn 2022-04-28T04:00:00Z The lira lost 44% against the dollar last year largely due to the monetary easing, which began in September despite rising inflation. Lights go out on Erdogan rival who refused to pay soaring power bills 2022-04-21T04:00:00Z "Even though we do not think this policy is right, we see the lira's recent weakening as a necessity. Otherwise it could have gotten out of control." Traders see a method to Turkish lira's recent slide 2022-05-12T04:00:00Z Rosneft however did leave room for negotiation where this is not possible, adding payment may be done in Chinese yuan, U.S. dollars, euro, United Arab Emirates dirhams and Turkish lira. Russia's Rosneft seeks roubles up front in oil tenders -sources 2022-04-20T04:00:00Z The Turkish lira is widely used in the region and Turkish administrators help run schools and hospitals. In north Syria, business hub hopes to drive recovery from war 2022-04-12T04:00:00Z While most emerging market currencies have managed to escape the onslaught of the Fed's policy tightening relatively unscathed, the Russian rouble and the Turkish lira were notable exceptions. No peace for emerging market currencies as mighty U.S. dollar reigns: Reuters poll 2022-04-08T04:00:00Z The lira, which lost 44% of its value against the U.S. dollar last year, plunged to a record high of 18.41 against the greenback in December. Turkey’s inflation hits 61% climbing to new 20-year high 2022-04-04T04:00:00Z At the height of the December crisis the lira touched 18.4 to the dollar, leading the central bank to intervene and the government to announce measures including a scheme to protect lira deposits against depreciation. Traders see a method to Turkish lira's recent slide 2022-05-12T04:00:00Z "With Turkey, it will be lira and roubles." Russia considers accepting Bitcoin for oil and gas 2022-03-25T04:00:00Z That includes a program encouraging people to keep their savings in lira through guarantees to compensate losses from the decline of the Turkish currency. Turkish central bank doesn’t change rates as inflation soars 2022-03-17T04:00:00Z Hardman said the situation for the Turkish lira wasn't very different. No peace for emerging market currencies as mighty U.S. dollar reigns: Reuters poll 2022-04-08T04:00:00Z His government managed to stabilise the lira and regain some confidence in January with a combination of costly market interventions and deposit protections. Analysis: Fallout of Ukraine war exposes Turkey's vulnerable economy 2022-03-11T05:00:00Z Ukrainian musician Taras Kompanichenko, who plays the lira, a traditional folk instrument, provided live music. The bride wore fatigues. The wedding party carried rifles and RPGs. 2022-03-06T05:00:00Z The lira was forecast to plunge another 20% in the next 12 months. FX markets in for bumpy ride over next three months 2022-03-04T05:00:00Z Nevertheless, the lira’s gains have slowed, and it was trading at 14.79 against the dollar after the central bank’s decision. Turkish central bank doesn’t change rates as inflation soars 2022-03-17T04:00:00Z The Turkish lira lost 44% of its value against the U.S. dollar last year. Turkey’s inflation hits 54%, deepening cost-of-living woes 2022-03-03T05:00:00Z "Authorities have few remaining options and have to let the lira depreciate somewhat, but not so much that it hurts confidence." Analysis: Fallout of Ukraine war exposes Turkey's vulnerable economy 2022-03-11T05:00:00Z The Turkish lira has sunk to record lows. Soaring Energy Bills Deepen Crisis for Turks, and Erdogan 2022-02-19T05:00:00Z The Turkish lira lost some 44% of its value against the dollar last year, while inflation surged to nearly 49% last month — reaching a 20-year high and sharply eroding people’s savings and purchasing power. Despite high inflation, Turkey keeps interest rate unchanged 2022-02-17T05:00:00Z The Turkish lira hit record lows in December following the rate cuts. Turkey’s Erdogan tries to ease surging energy bills 2022-02-16T05:00:00Z A currency crisis was triggered by the cuts and the Turkish lira hit record lows in December. Turkey to lower taxes on basic foods to fight high inflation 2022-02-12T05:00:00Z But that ended when the invasion began, and the lira has since tumbled 6%. Analysis: Fallout of Ukraine war exposes Turkey's vulnerable economy 2022-03-11T05:00:00Z Over the past year, the lira has lost more than 48 percent of its value. Soaring Energy Bills Deepen Crisis for Turks, and Erdogan 2022-02-19T05:00:00Z Erdogan’s government has introduced unconventional measures to halt the depreciation of the Turkish lira instead of raising interest rates. Despite high inflation, Turkey keeps interest rate unchanged 2022-02-17T05:00:00Z In December, the lira's plunge forced grocery stores to re-price goods on the shelf almost every day. Can tourism ease the inflation pressure in Turkey? 2022-02-04T05:00:00Z Turkey's battered lira plunged 44% last year, making it by far the worst performer in emerging markets and marking its worst year since President Tayyip Erdogan came to power nearly two decades ago. Emerging FX already riding higher local rates will outperform this year 2022-02-04T05:00:00Z Emergency measures recently taken by the government have helped the lira recover some of its value against the dollar. As Turkey’s economy struggles, Erdogan goes it alone 2022-01-21T05:00:00Z “In December, peppers were eight lira per kilo. Today, they were 22 lira. Cucumber was six lira, today it was 20 lira,” he said. Soaring Energy Bills Deepen Crisis for Turks, and Erdogan 2022-02-19T05:00:00Z Turkey has spent years slashing rates only to hike again when the lira collapses, stoking inflation. Analysis: A handbook of (mostly failed) radical inflation-fighting efforts 2022-01-21T05:00:00Z "It's really scary, actually, but I can't do anything else. Yesterday I went to the market and one bag is 300 lira. One month ago it was 150," she said. Can tourism ease the inflation pressure in Turkey? 2022-02-04T05:00:00Z Erdogan has turned to unconventional measures to halt the depreciation of the Turkish lira instead of raising interest rates. Turkey’s central bank ends string of interest rate cuts 2022-01-20T05:00:00Z Amid the latest economic crisis, Erdogan has framed developments, including the plunging value of the lira, as calculated steps designed to foster export-led growth, increase access to credit and reduce the country’s trade deficit. As Turkey’s economy struggles, Erdogan goes it alone 2022-01-21T05:00:00Z “I never bought eggplant for more than six lira. Today, it’s 30 lira. It rose by 400-500 percent.” Soaring Energy Bills Deepen Crisis for Turks, and Erdogan 2022-02-19T05:00:00Z The agreement aims to help Turkey’s reserves following a series of interventions by the central bank, which sold foreign currency to prop up the lira amid a currency crisis. Turkey’s deal with UAE to build foreign exchange reserves 2022-01-19T05:00:00Z "So, from that perspective, if you have a reasonably strong tourism season, this helps to support the lira and helps bring down inflation," Mr Kelly said. Can tourism ease the inflation pressure in Turkey? 2022-02-04T05:00:00Z The measures include a program that encourages people to keep their savings in lira through guarantees to compensate losses from the decline of the Turkish currency. Turkey’s central bank ends string of interest rate cuts 2022-01-20T05:00:00Z The Turkish lira hit successive record lows in November and December and lost about 45% of its value against the U.S. dollar last year. EXPLAINER: Are Turkey’s efforts to fix the economy working? 2022-01-19T05:00:00Z Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. Leaping yields buttress dollar ahead of Fed meeting 2022-01-19T05:00:00Z The lira has mostly stabilised this month after plunging 44% against the dollar last year. Turkey's Erdogan working on steps to boost interest in lira, media say 2022-01-18T05:00:00Z At that time, the row added to pressure on the ailing Turkish lira amid concerns about the impact on Turkey's relations with the West. Turkish court rules to keep Kavala in jail during trial 2022-01-17T05:00:00Z The lira, which lost around 45% of its value against the dollar last year, strengthened slightly against the U.S. currency following Thursday’s interest rate decision. Turkey’s central bank ends string of interest rate cuts 2022-01-20T05:00:00Z The lira, which had dropped to an all-time low of 18 against the dollar, rallied after the announcement to around 11. EXPLAINER: Are Turkey’s efforts to fix the economy working? 2022-01-19T05:00:00Z Turkish lira banknotes are pictured at a currency exchange office in Istanbul, Turkey August 13, 2018. Erdogan vows to tame Turkish inflation as scepticism grows 2022-01-12T05:00:00Z "Our additional work is continuing on maintaining stability in financial markets and boosting interest in the lira." Turkey's Erdogan working on steps to boost interest in lira, media say 2022-01-18T05:00:00Z "People are converting very little foreign currency. Essentially, they prefer to transfer lira deposits here," said one banking source. Erdogan's scheme to halt crisis attracts little FX conversion- sources 2022-01-06T05:00:00Z There was a brief respite to the lira’s decline before it resumed in the last week of December. Opinion | Erdogan’s arbitrary rule is devaluing his nation’s currency — both moral and economic 2022-01-03T05:00:00Z The central bank said exporters would be required to exchange 25% of their foreign currency revenue into liras. EXPLAINER: Are Turkey’s efforts to fix the economy working? 2022-01-19T05:00:00Z "The deeply negative real rates and the high level of loan growth are likely to keep inflation elevated and continue to put pressure on the lira," the Wall Street bank said. Erdogan vows to tame Turkish inflation as scepticism grows 2022-01-12T05:00:00Z The subsequent accelerating surge in prices and drop in the lira have upended household and company budgets. Turkey's inflation hits 36% amid financial turmoil 2022-01-03T05:00:00Z "Separately, the weakening of the lira is continuing. In this environment, people prefer to stay holding foreign currencies," the source said. Erdogan's scheme to halt crisis attracts little FX conversion- sources 2022-01-06T05:00:00Z Superficially, there is no particular connection between the two biggest ongoing news stories in Turkey: the government’s persecution of a political dissident, philanthropist Osman Kavala, and the dizzying collapse of the Turkish currency, the lira. Opinion | Erdogan’s arbitrary rule is devaluing his nation’s currency — both moral and economic 2022-01-03T05:00:00Z Babacan insists Turkish investors are holding on to their foreign currencies and just switching any existing lira deposits into accounts under the program. EXPLAINER: Are Turkey’s efforts to fix the economy working? 2022-01-19T05:00:00Z The weakened lira has made imports, fuel and everyday items more expensive and has left many in the country of some 84 million struggling to buy food and other basic goods. Turkey’s inflation hits a 19-year high of 36% 2022-01-03T05:00:00Z To curb the lira's weakness, Mr Erdogan unveiled a scheme three weeks ago in which the state protects converted local deposits from losses versus hard currencies. Turkey's inflation hits 36% amid financial turmoil 2022-01-03T05:00:00Z "At the moment, fundamentally it is those holding lira benefitting from the KKM accounts, but the number and volume of those who have converted forex and returned to lira is rather low." Erdogan's scheme to halt crisis attracts little FX conversion- sources 2022-01-06T05:00:00Z Turkey’s central bank is reportedly spending billions of dollars of its reserves to prop up the lira, but inflation has just hit an annual rate of 36 percent. Opinion | Erdogan’s arbitrary rule is devaluing his nation’s currency — both moral and economic 2022-01-03T05:00:00Z The deposit system has provided a respite for Erdogan, ending the lira’s excessive volatility even though the shift to exchange rate-protected accounts is limited. EXPLAINER: Are Turkey’s efforts to fix the economy working? 2022-01-19T05:00:00Z Last month, Erdogan announced measures to safeguard lira deposits against volatility after the Turkish currency hit an all-time low of 18.36 against the dollar. Turkey’s inflation hits a 19-year high of 36% 2022-01-03T05:00:00Z That sparked a sharp 50% rally in the lira with support from the central bank. Turkey's inflation hits 36% amid financial turmoil 2022-01-03T05:00:00Z "Work is being carried out on long-term instruments to increase trust in the lira and draw in investment." Erdogan's scheme to halt crisis attracts little FX conversion- sources 2022-01-06T05:00:00Z The currency crisis accelerated in recent months, rattling the $720 billion economy, largely due to Erdogan's "new economic programme" focused on exports and credit despite the lira's collapse and inflation of more than 21%. Turkey's lira logs worst year in two decades under Erdogan 2021-12-31T05:00:00Z Should the lira fall again, Turkey’s treasury would have to foot the bill for exchange rate losses, further increasing inflation and financially burdening the government, they say. EXPLAINER: Are Turkey’s efforts to fix the economy working? 2022-01-19T05:00:00Z The lira rebounded following the announcement but has since lost some of those gains. Turkey’s inflation hits a 19-year high of 36% 2022-01-03T05:00:00Z But the lira then sank again last week, prompting a call on Friday from the president for people to keep all their savings in lira and shift gold into banks. Turkey's inflation hits 36% amid financial turmoil 2022-01-03T05:00:00Z The cash introduction saw the new euro notes and coins quickly replace German marks, French francs and Italian lire in ATMs, cash registers, and wallets and purses. Europe’s shared notes and coins turn 20 at New Year’s 2021-12-31T05:00:00Z Economists and former central bankers have called the easing reckless given inflation is expected to hit 30% in December due to the lira depreciation. Turkey's lira logs worst year in two decades under Erdogan 2021-12-31T05:00:00Z Elsewhere in currency markets, Turkey's lira - by far the biggest currency loser in 2021 - fell for a fifth straight day. Stocks to see in New Year near record highs after banner 2021 2021-12-31T05:00:00Z The lira depreciated by around 44% against the dollar last year. Turkey’s inflation hits a 19-year high of 36% 2022-01-03T05:00:00Z However, Thursday’s data showed that most of last week’s lira appreciation in fact had been driven by central bank intervention, said Per Hammarlund, chief EM strategist at SEB. Lira on four-day skid as Ankara struggles to hold confidence 2021-12-30T05:00:00Z But the 2022 wage relief and the sharp turnaround in the lira - rallying to 12 per dollar - suggest Erdogan may want to act soon, after a long slide in his opinion poll ratings. Erdogan may cash in on economy steps with early election, analysts say 2021-12-29T05:00:00Z Under it, the state covers the difference between deposit rates and the foreign exchange and gold rate for lira converted into the new instrument. Turkey's lira logs worst year in two decades under Erdogan 2021-12-31T05:00:00Z In other international developments, the Turkish lira fell another 5% against the dollar. Stocks slightly higher as traders return from holiday 2021-12-27T05:00:00Z The lira crisis was prompted by President Tayyip Erdogan's push for lower interest rates despite a sharp increase in inflation and warnings from economists. Turkish market for at-risk women at standstill after lira crash 2021-12-27T05:00:00Z Swinging from 18.4 to 10.25 over the last two weeks, the lira’s dizzying ride has seen Turks’ savings depleted and household budgets upended. Lira on four-day skid as Ankara struggles to hold confidence 2021-12-30T05:00:00Z However, the message's effectiveness will depend on the direction of the lira and inflation, and their impact on Turks who have seen their spending power slashed. Erdogan may cash in on economy steps with early election, analysts say 2021-12-29T05:00:00Z Many economists have warned that if the lira continues to depreciate, the scheme could further stoke inflation and add to the state's fiscal burden. Turkey's lira logs worst year in two decades under Erdogan 2021-12-31T05:00:00Z The government announced a plan last week that would encourage Turks to put their money back into lira bank accounts to prop up the currency. Stocks slightly higher as traders return from holiday 2021-12-27T05:00:00Z One week ago, before the government moves, one dollar was worth 18 lira. Turkish market for at-risk women at standstill after lira crash 2021-12-27T05:00:00Z Nebati also said there were no state interventions to sell dollars and boost the lira last week, despite data showing reserves fell in what bankers and economists said reflected state-backed market support. Lira on four-day skid as Ankara struggles to hold confidence 2021-12-30T05:00:00Z To boost the lira, Erdogan announced a scheme in which the state protects converted lira deposits against future depreciation losses versus hard currencies. Erdogan may cash in on economy steps with early election, analysts say 2021-12-29T05:00:00Z The lira got a big boost from what traders and economists called backdoor dollar sales by state banks supported by the central bank. Turkish lira caps historic week with big lift from Erdogan government 2021-12-24T05:00:00Z Even after some unorthodox measures by the administration to repair the damage, the lira remains down some 50%-plus on the year. Marketmind: What worked and what didn't 2021-12-24T05:00:00Z Economists say the lira remains vulnerable, and with it people's living standards. Turkish market for at-risk women at standstill after lira crash 2021-12-27T05:00:00Z The central bank has announced five direct interventions this month to support the lira, which bankers say totaled $6-$10 billion. Lira on four-day skid as Ankara struggles to hold confidence 2021-12-30T05:00:00Z A money changer counts Turkish lira banknotes at a currency exchange office in Ankara, Turkey November 11, 2021. Lira extends week's rally bolstered by Turkish state banks 2021-12-23T05:00:00Z Price rises are set to blow through 30% next year in part due to the lira depreciation. Turkish lira caps historic week with big lift from Erdogan government 2021-12-24T05:00:00Z A money changer holds Turkish lira and U.S. dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Turkey's state banks boosted lira rally after Erdogan rescue plan 2021-12-23T05:00:00Z Before Erdogan announced the government's plan on Monday to protect lira deposits from further depreciation, the currency had slumped to a record low of 18.40 to the dollar. Turkey's president hails steps to help depositors, as lira steadies 2021-12-22T05:00:00Z Under it, the Treasury or central bank covers the difference between deposit rates and the foreign exchange and gold rate for lira converted into the new instrument. Lira on four-day skid as Ankara struggles to hold confidence 2021-12-30T05:00:00Z On Monday, President Tayyip Erdogan announced the series of steps that would shift the burden of a weakened currency to the Treasury and encourage Turks to hold lira rather than dollars. Lira extends week's rally bolstered by Turkish state banks 2021-12-23T05:00:00Z The Turkish lira is some 30% off record lows following authorities' promise of compensation for deposit holders against currency losses. Looking past Omicron 2021-12-22T05:00:00Z Analysts have warned that if the lira's rally fizzles and reverses, the scheme could further stoke inflation, add to public debt, and eat into foreign reserves. Turkey's state banks boosted lira rally after Erdogan rescue plan 2021-12-23T05:00:00Z More than half of savings held by Turks are in foreign currencies and gold, central bank data shows, with confidence in the lira eroding after years of depreciation and bruised central bank credibility. Turkey's president hails steps to help depositors, as lira steadies 2021-12-22T05:00:00Z Many economists and political analysts warn that if the lira continues to depreciate, the scheme could stoke inflation and add to the state’s fiscal burden. Lira on four-day skid as Ankara struggles to hold confidence 2021-12-30T05:00:00Z More than half of locals' savings is in hard currencies and gold, official data shows, due to a loss of confidence in the lira after years of depreciation and eroded central bank credibility. Lira extends week's rally bolstered by Turkish state banks 2021-12-23T05:00:00Z Following Mr. Erdogan’s speech, the lira made a dramatic recovery from a sharp fall on Monday. Cashing In Grandma’s Gold Coins, a Turkish Family Struggles to Get By 2021-12-21T05:00:00Z On Thursday, for the fourth month in a row, the central bank cut interest rates — sending the lira to a record low against the dollar. As Turkey’s economy suffers, Erdogan’s opponents step up efforts aimed at unseating him 2021-12-21T05:00:00Z The central bank has said it intervened directly in markets five times this month to support lira. Turkey's president hails steps to help depositors, as lira steadies 2021-12-22T05:00:00Z SEB’s Hammarlund predicted the lira would face more volatility in the weeks ahead. Lira on four-day skid as Ankara struggles to hold confidence 2021-12-30T05:00:00Z Turkish lira slumps are hardly rare these days, but this year’s blow-up has been spectacular even by its standards. Global Markets in 2021: Recoveries, reflation and wrecking balls 2021-12-22T05:00:00Z The crunch started this year as the Turkish currency, the lira, fell by nearly 50 percent against the dollar and inflation soared to 21 percent, according to official statistics. Cashing In Grandma’s Gold Coins, a Turkish Family Struggles to Get By 2021-12-21T05:00:00Z By Friday, the lira had sagged again, falling to 16.30 against the dollar despite a central bank intervention to prop up the currency. As Turkey’s economy suffers, Erdogan’s opponents step up efforts aimed at unseating him 2021-12-21T05:00:00Z The lira selloff was sparked by sharp cuts in interest rates engineered - in the face of widespread criticism from businesses and economists - by President Tayyip Erdogan. As inflation soars, Turkish newlyweds stock up on food and dream of travel 2021-12-21T05:00:00Z Economists and opposition lawmakers called the easing reckless given inflation had climbed above 21%, and is expected to soar beyond 30% this month and in the months ahead, due to the sharp lira depreciation. Lira on four-day skid as Ankara struggles to hold confidence 2021-12-30T05:00:00Z Bankers told Reuters they had therefore converted up to $1.5 billion in savings on Monday night alone, driving the lira's biggest rally on record in volatile trading. Analysis: Turkish depositors delight in lira let-up but will Erdogan's plan deliver? 2021-12-21T05:00:00Z Before the pandemic, Turkey was trying to ward off a recession caused by mountainous debt, steep losses in the value of the lira and rising inflation. Cashing In Grandma’s Gold Coins, a Turkish Family Struggles to Get By 2021-12-21T05:00:00Z But the lira was surging again Tuesday morning after Erdogan later on Monday unveiled a plan to protect savings from the currency’s fluctuations. As Turkey’s economy suffers, Erdogan’s opponents step up efforts aimed at unseating him 2021-12-21T05:00:00Z On Monday, Erdogan unveiled a plan to protect local currency savings against market fluctuations, prompting a lira recovery as Turks sold dollars. As inflation soars, Turkish newlyweds stock up on food and dream of travel 2021-12-21T05:00:00Z The gains came after Mr Erdogan pledged to compensate savers for currency moves that have eroded the value of bank deposits held in lira. Turkish lira in comeback after new plan unveiled 2021-12-21T05:00:00Z Under pressure from Erdogan, Turkey's central bank has cut rates by 500 basis points since September, setting off the worst lira crisis in two decades on fears of an inflationary spiral. Analysis: Turkish depositors delight in lira let-up but will Erdogan's plan deliver? 2021-12-21T05:00:00Z Over the past year, the lira has lost more than 45 percent of its value. Cashing In Grandma’s Gold Coins, a Turkish Family Struggles to Get By 2021-12-21T05:00:00Z Savings have vanished as the lira has lost more than 40 percent of its value this year. As Turkey’s economy suffers, Erdogan’s opponents step up efforts aimed at unseating him 2021-12-21T05:00:00Z The lira hit an all-time low of 18.36 against the U.S. dollar Monday but rebounded to a high of 11.09 Tuesday morning. Turkish lira rebounds after Erdogan promise to help deposits 2021-12-21T05:00:00Z Under the latest measure, the government has promised to pay the difference between the value of savings in lira and equivalent dollar deposits. Turkish lira in comeback after new plan unveiled 2021-12-21T05:00:00Z In a late Monday speech, Erdogan said the series of steps will ease burdens from a currency crash over the last few weeks and encourage Turks to hold lira savings rather than dollars. Turkish lira charges back after Erdogan's anti-dollarization plan 2021-12-21T05:00:00Z As the lira’s slide continues, sporadic protests have broken out around Turkey and the opposition parties have called for a series of rallies to demand a change of government. Cashing In Grandma’s Gold Coins, a Turkish Family Struggles to Get By 2021-12-21T05:00:00Z Turkish lira plunges to record low as Erdogan doubles down on economic policy his critics call ‘insane’ As Turkey’s economy suffers, Erdogan’s opponents step up efforts aimed at unseating him 2021-12-21T05:00:00Z The currency has been on a rollercoaster ride since the central bank began lowering interest rates in September and saw extreme volatility in the past weeks when the lira kept hitting record lows. Turkish lira rebounds after Erdogan promise to help deposits 2021-12-21T05:00:00Z The lira is so distrusted that more than half of savings in Turkey are in foreign currencies and gold, according to central bank data. Turkish lira in comeback after new plan unveiled 2021-12-21T05:00:00Z According to the calculations of three bankers, around $1-1.5 billion in savings were converted to lira on Monday night. Turkish lira charges back after Erdogan's anti-dollarization plan 2021-12-21T05:00:00Z “Five liters of cooking oil was 49 lira and now it’s 170 lira,” she said. Cashing In Grandma’s Gold Coins, a Turkish Family Struggles to Get By 2021-12-21T05:00:00Z He also vowed to press on with a low-rates policy that led to the lira's slide in the first place. Dollar on back foot as Treasury yields soften, Omicron keeps markets on edge 2021-12-21T05:00:00Z “From now on, our citizens won’t need to switch their deposits from Turkish lira to foreign currency, fearing that the exchange rate will be higher,” Erdogan said Monday. Turkish lira rebounds after Erdogan promise to help deposits 2021-12-21T05:00:00Z The lira has lost more than half of its value this year and is by far the worst performer among peers for three years running, due largely to damaged monetary credibility, analysts say. Lira crashes to new low of 20 vs euro after Erdogan comments 2021-12-20T05:00:00Z The lira has plunged to record lows this year over fears of an inflationary spiral brought on by Erdogan's push for monetary easing, losing about 40% of its value in the past month alone. Turkish lira charges back after Erdogan's anti-dollarization plan 2021-12-21T05:00:00Z This year, the Turkish lira has lost half of its value against the dollar, consigning Americans invested in Turkish stocks to a decline of more than 25 percent. The Risk of Avoiding Emerging Markets 2021-12-17T05:00:00Z The lira hit a record low beyond 17 against the dollar on Friday, gripped by fears of an inflationary spiral brought on by Erdogan's new policy in the face of soaring prices. Turkish business group calls for an end to Erdogan's low-rates policy 2021-12-18T05:00:00Z The weakened lira was driving prices higher, making imports, fuel and everyday goods more expensive. Turkish lira rebounds after Erdogan promise to help deposits 2021-12-21T05:00:00Z Turkey's currency crisis accelerated on Friday as the lira plunged about 8%, hit by concerns over an inflationary spiral brought on by Erdogan's unorthodox plan to slash interest rates in the face of soaring prices. Feeding the fire? Turkish restaurants to raise prices to cover wage jump 2021-12-17T05:00:00Z While the government has called the lira's recovery a major win, economists have called his economic programme based on low interest rates reckless and said inflation - currently above 21% - would blow through 30% next year. Turkish lira charges back after Erdogan's anti-dollarization plan 2021-12-21T05:00:00Z The lira’s fall prompted the Central Bank to intervene by selling off more foreign currency. Turkey’s lira sinks to new low, prompting bank to intervene 2021-12-17T05:00:00Z The lira plunged to 15.60 against the dollar in the hours after the rate cut, down 5 percent in the day. Turkish Currency Hits a New Low, Again 2021-12-16T05:00:00Z The value of the Turkish lira currency has lost nearly half its value this year, leaving businesses and people struggling to pay bills. How Turkish bread shows spiralling inflation 2021-12-16T05:00:00Z The lira has shed some 40% of its value in the last 30 days alone, rattling the economy and hitting the finances of many Turks. Feeding the fire? Turkish restaurants to raise prices to cover wage jump 2021-12-17T05:00:00Z The central bank has intervened four times in the currency market in the last two weeks, selling dollars to slow the lira sell-off and eating into its already depleted foreign reserves. Turkish lira hits new low after Erdogan's latest rate cut 2021-12-16T05:00:00Z It was the bank’s fifth intervention in recent weeks to attempt to prop up the lira. Turkey’s lira sinks to new low, prompting bank to intervene 2021-12-17T05:00:00Z Driving the lira down in value appears to be part of a policy to make Turkey more competitive in export markets. Turkish Currency Hits a New Low, Again 2021-12-16T05:00:00Z The Turkish lira fell sharply against the dollar after the cut in interest rates, which is the fourth such cut in as many months. Turkey cuts interest rates despite spiralling inflation 2021-12-16T05:00:00Z The Turkish lira hit a historic low of 15.28 against the U.S. dollar early Thursday amid the prospect of a new rate cut and then extended its losses following the decision. Turkish lira dips to new low after another interest rate cut 2021-12-16T05:00:00Z After the latest cut, market watchers forecast more pain for the lira, which has lost 47% of its value since the start of September alone. Turkish lira hits new low after Erdogan's latest rate cut 2021-12-16T05:00:00Z The lira hit a new record low of 17.14 against the dollar before the bank intervened and the currency recovered some of its losses Friday. Turkey’s lira sinks to new low, prompting bank to intervene 2021-12-17T05:00:00Z The lira has lost nearly 50 percent of its value this year. Turkish Currency Hits a New Low, Again 2021-12-16T05:00:00Z Although the bank has attempted to bolster the value of the lira by using its dollar reserves to buy the currency, analysts have said it does not have enough firepower to stop the slide. Turkey cuts interest rates despite spiralling inflation 2021-12-16T05:00:00Z The bank has intervened four times in recent weeks by selling off foreign currency in a bid to prop up the lira, but the action has failed to stop its depreciation. Turkish lira dips to new low after another interest rate cut 2021-12-16T05:00:00Z But given the lira's crash, economists predict inflation will jump to near 30% next year due largely to soaring import prices. Turkish lira hits new low after Erdogan's latest rate cut 2021-12-16T05:00:00Z The weakened lira is driving prices higher, making imports, fuel and everyday goods more expensive. Turkey’s lira sinks to new low, prompting bank to intervene 2021-12-17T05:00:00Z “There is no need for such speculation. Our money is here, and it is the Turkish lira. We will not allow it to crash.” Turkish Currency Hits a New Low, Again 2021-12-16T05:00:00Z Turks are grappling with soaring inflation, watching prices rise daily as the lira has plunged against the dollar and their salaries and pensions no longer cover even the staples of life. Many Turks Can’t Afford Bread, and Bakers Can’t Afford to Make It 2021-12-15T05:00:00Z Soaring consumer prices and the falling value of the lira have left many people struggling to make ends meet. Turkish lira dips to new low after another interest rate cut 2021-12-16T05:00:00Z "That itself wouldn't stop the slide in the lira, as real interest rates will further slump to more negative levels," he added. Turkish lira hits new low after Erdogan's latest rate cut 2021-12-16T05:00:00Z The economy seesawed between these conflicting goals until 2018 when growing political tensions between Turkey and the United States caused the value of the lira to topple. How Did Turkey’s Economy Go So Wrong? 2021-12-14T05:00:00Z A former prime minister, Ahmet Davutoglu, in light of the day’s crushing fall of the lira, derided the increase in the minimum wage. Turkish Currency Hits a New Low, Again 2021-12-16T05:00:00Z Some bakeries have ignored the set price of 2.5 lira and raised the price of the staple loaf to four lira, in line with their rising costs. Many Turks Can’t Afford Bread, and Bakers Can’t Afford to Make It 2021-12-15T05:00:00Z He’d find an envelope with a few thousand old Italian lire under his pillow. Italian Bishop Gives Children Harsh News: There Is No Santa Claus 2021-12-14T05:00:00Z The lira was also hit by the U.S. Turkish lira hits new low after Erdogan's latest rate cut 2021-12-16T05:00:00Z To prop up the lira, Turkish banks began selling off their reserves of dollars. How Did Turkey’s Economy Go So Wrong? 2021-12-14T05:00:00Z A money changer counts Turkish lira banknotes at a currency exchange office in Ankara, Turkey September 27, 2021. How low can you go? Five questions for Turkey's central bank 2021-12-15T05:00:00Z Customers are buying less, and some are joining the lines at the government kiosk where a loaf costs 1.25 lira, about nine U.S. cents. Many Turks Can’t Afford Bread, and Bakers Can’t Afford to Make It 2021-12-15T05:00:00Z A merchant counts Turkish lira banknotes at the Grand Bazaar in Istanbul, Turkey, March 29, 2019. UBS chief investment office stops coverage of U.S. dollar-Turkish lira pair 2021-12-14T05:00:00Z The value of the lira has collapsed roughly 45 percent this year. Inflationary Wave Changes Political Terrain for Right-Wing Populists 2021-12-13T05:00:00Z And if the lira loses value against the dollar, he says, Turkey’s exports will simply become cheaper and foreign consumers will want to buy even more. How Did Turkey’s Economy Go So Wrong? 2021-12-14T05:00:00Z Only one respondent predicted rates would remain on hold, given that more easing could exacerbate the lira's depreciation and soaring inflation, which was running at 21.3% last month. How low can you go? Five questions for Turkey's central bank 2021-12-15T05:00:00Z Turkish opposition parties have criticised the normalisation with the UAE, saying the government was opting for the move now only due to a crash in the lira currency. Turkish foreign minister to visit UAE, as rivals ramp up diplomatic contacts 2021-12-13T05:00:00Z The Turkish lira has fallen to a new record low amid fears that the central bank will make a further cut in interest rates later this week. Turkish lira slumps further to new record low 2021-12-13T05:00:00Z Claudia Calich, the head of emerging market debt at M&G Investments in London, has invested in Turkish government bonds, denominated in lira, for years. Inflationary Wave Changes Political Terrain for Right-Wing Populists 2021-12-13T05:00:00Z When the lira depreciates, those products cost more to buy. How Did Turkey’s Economy Go So Wrong? 2021-12-14T05:00:00Z Turkey's chronic trade imbalance means the lira's weakness translates into higher inflation via imports. How low can you go? Five questions for Turkey's central bank 2021-12-15T05:00:00Z The Turkish lira plummeted to 14.75 against the U.S. dollar, prompting Turkey’s Central Bank to intervene by selling off foreign currency. Turkey’s Central Bank intervenes as currency hits record low 2021-12-13T05:00:00Z Although the bank has attempted to bolster the value of the lira by using its dollar reserves to buy the currency, analysts say it does not have enough firepower to stop the slide. Turkish lira slumps further to new record low 2021-12-13T05:00:00Z The lira began a free fall within hours of his speech, losing 15% of its value in one day. Turkey’s president follows his own advice even as economy slips 2021-12-10T05:00:00Z Turkey, long viewed with suspicion by the Emirates and Egypt over offering a haven to Islamists, has sought warmer ties as it tries to halt the collapse of its currency, the lira. Analysis: As US focus wanes, Mideast turns inward for talks 2021-12-08T05:00:00Z Another risk is that businesses shy away from the lira given the unpredictability of both exchange and inflation rates. How low can you go? Five questions for Turkey's central bank 2021-12-15T05:00:00Z The lira has been plunging to record lows as the bank has slashed borrowing costs by 4 percentage points since September despite soaring inflation. Turkey’s Central Bank intervenes as currency hits record low 2021-12-13T05:00:00Z As a result, the Turkish lira, which had barely recovered from a currency crisis in 2018, has been weakening to record lows against the dollar and the euro. EXPLAINER: Turkey’s currency is crashing. What’s the impact? 2021-12-02T05:00:00Z Turkey’s currency, the lira, began sliding virtually as he spoke, capping a day in which it lost 8% of its value. Turkey’s president follows his own advice even as economy slips 2021-12-10T05:00:00Z The north continues to use the Turkish lira and has an economy closely tied to the Turkish mainland. Pope Francis Heads to Cyprus Aiming to Highlight Plight of Migrants 2021-12-02T05:00:00Z The rapid slide in the lira has upended household budgets, scuttled travel plans and left many Turks scrambling to cut costs. How low can you go? Five questions for Turkey's central bank 2021-12-15T05:00:00Z On Monday, the Turkish lira plunged before the Central Bank announced it was intervening by “selling transactions due to unhealthy price formations in exchange rates.” Turkey’s Central Bank intervenes as currency hits record low 2021-12-13T05:00:00Z On Tuesday, the lira plummeted again to an all-time low of 14 against the dollar after Erdogan reiterated that cuts would continue and amid signs the U.S. EXPLAINER: Turkey’s currency is crashing. What’s the impact? 2021-12-02T05:00:00Z The lira has flirted with record lows this week, but Turkey's long-time leader is pressing ahead with his "economic war of independence", backed up by low interest rates. Why Turkey's currency crash does not worry Erdogan 2021-12-02T05:00:00Z His resignation comes as the Turkish lira has been plummeting to successive all-time lows over concerns about the government’s economic policy, following a series of cuts in borrowing costs despite soaring inflation. Turkey’s Erdogan replaces finance minister as lira crashes 2021-12-01T05:00:00Z A loaf of bread still sells at 2.5 liras, or about 20 cents, but bakeries are complaining that their costs are closer to 4 liras a loaf, he said. ‘Our Money Has No Value’: Frustration Rises in Turkey at Lira Crisis 2021-11-30T05:00:00Z The weakening lira has accelerated inflation in Turkey, seriously eroding people’s purchasing power and making even basic needs unaffordable. Turkey’s Central Bank intervenes as currency hits record low 2021-12-13T05:00:00Z The lira recovered a bit Wednesday after Turkey’s Central Bank announced it was intervening in the foreign exchange market to stem the volatility. EXPLAINER: Turkey’s currency is crashing. What’s the impact? 2021-12-02T05:00:00Z The simple reason for the Turkish lira's collapse is his unorthodox economic policy of keeping interest rates low to boost Turkey's economic growth and export potential with a competitive currency. Why Turkey's currency crash does not worry Erdogan 2021-12-02T05:00:00Z Turkey's lira crashed nearly 25% in November, a crisis that was largely of its own making. COVID comeback caps a November to remember in markets 2021-11-30T05:00:00Z “The rent has gone up from 1,500 liras to almost 2,500 liras since last year. I don’t know where this is all going.” ‘Our Money Has No Value’: Frustration Rises in Turkey at Lira Crisis 2021-11-30T05:00:00Z The lira has lost as much as 25% of its value since the beginning of last week over concerns about aggressive interest rate cuts backed by Erdogan. Turkey jails founder of opposition party pending trial 2021-11-29T05:00:00Z The devalued lira is driving prices higher, making imports, fuel and everyday goods more expensive in Turkey, which relies on imported raw material. EXPLAINER: Turkey’s currency is crashing. What’s the impact? 2021-12-02T05:00:00Z Turkey's economy is heavily dependent upon imports for producing goods from foods to textiles, so the rise of the dollar against the lira has a direct impact on the price of consumer products. Why Turkey's currency crash does not worry Erdogan 2021-12-02T05:00:00Z The lira plunged to record lows this week after Erdogan pledged to stick with a policy of easing interest rates. Erdogan orders probe into Turkish lira's slump - Anadolu 2021-11-27T05:00:00Z “Just a decision for snap elections would make the lira gain some value.” ‘Our Money Has No Value’: Frustration Rises in Turkey at Lira Crisis 2021-11-30T05:00:00Z It was set at about 4.6 to the euro for this year, while a euro was worth 13.4 lira on Thursday. Turks scramble to find medications after lira plunge hits supply 2021-11-26T05:00:00Z Every morning, long lines form outside kiosks selling bread a lira cheaper than in bakeries and shops. EXPLAINER: Turkey’s currency is crashing. What’s the impact? 2021-12-02T05:00:00Z Foreign currency debt is a problem for the private sector and most companies have found it is more profitable to hold products in storage rather than sell them, because of the lira's volatility and inflation. Why Turkey's currency crash does not worry Erdogan 2021-12-02T05:00:00Z The protest, held to mark the international day for the elimination of violence against women, coincided with other small anti-government protests this week over the sharp slide in the value of the lira currency. Turkish police break up 'violence against women' protest 2021-11-25T05:00:00Z The signs of economic distress in Turkey are all too clear as the lira continues a dizzying slide. ‘Our Money Has No Value’: Frustration Rises in Turkey at Lira Crisis 2021-11-30T05:00:00Z Below are four charts depicting trading on a watershed day for the lira. Big falls, thin trades: Trading Turkey's lira 2021-11-25T05:00:00Z In a further shake-up, Erdogan on Thursday appointed a new finance minister considered to be supportive of the push for low borrowing rates, leading to a slight decline of the lira. EXPLAINER: Turkey’s currency is crashing. What’s the impact? 2021-12-02T05:00:00Z When the lira slumped 18% in one day on 23 November, there were small protests and dozens of arrests. Why Turkey's currency crash does not worry Erdogan 2021-12-02T05:00:00Z The central bank, already lacking credibility, said on Tuesday it would only intervene at times of "excessive volatility" - as the lira dove 15% in its second-worst day ever. Analysis: Erdogan unbowed by critics, leaving little stopping lira's collapse 2021-11-25T05:00:00Z Sporadic protests have broken out around Turkey and the opposition parties have called for a series of rallies to demand a change of government after the lira crashed sharply last week. ‘Our Money Has No Value’: Frustration Rises in Turkey at Lira Crisis 2021-11-30T05:00:00Z The number of trades thinned out dramatically as the lira plunged to its record low of 13.45 to the dollar on Tuesday, data over the past week showed. Big falls, thin trades: Trading Turkey's lira 2021-11-25T05:00:00Z Turkish lira banknotes are seen in this illustration taken in Istanbul, Turkey November 23, 2021. Turkish lira rebounds after hitting record lows 2021-11-25T05:00:00Z Few hold out hope of Mr Erdogan's new economic model coming to the rescue of the Turkish lira. Why Turkey's currency crash does not worry Erdogan 2021-12-02T05:00:00Z Regulators could also impose some restrictions on local companies and individuals buying dollars, euros and gold to slow further lira depreciation, analysts said. Analysis: Erdogan unbowed by critics, leaving little stopping lira's collapse 2021-11-25T05:00:00Z The police detained 70 people in several districts of Istanbul last Wednesday who were protesting the government’s management of the economy, after a record drop in the lira the day before. ‘Our Money Has No Value’: Frustration Rises in Turkey at Lira Crisis 2021-11-30T05:00:00Z The amount of deals peaked during that period when the lira stood at just under 10 to the dollar. Big falls, thin trades: Trading Turkey's lira 2021-11-25T05:00:00Z Turkey's central bank has previously sought swap deals with other countries as a source of hard currency to build reserves and support the lira, which has lost as much as 45% this year. Turkey, UAE sign investment accords worth billions of dollars 2021-11-24T05:00:00Z The protest comes amid rising inflation that has severely eroded Turks’ purchasing power, high unemployment and a steep decline of the Turkish currency — the lira — that followed a series of interest rate cuts. Turkish police break up protest against rising living costs 2021-11-24T05:00:00Z The local prices of phones and computers were some 10% below U.S. prices following the sudden depreciation in the lira. "Not currently available": Turks can't buy iPhones, other electronics after lira plunge 2021-11-24T05:00:00Z Some banks across the country stopped currency transactions yesterday, fearing that the steep fall in the lira’s value could spark a run on reserves, according to local newspaper reports. Turkish lira weakens towards record low; markets eye US GDP, Fed minutes – business live 2021-11-24T05:00:00Z Implied volatility gauges for lira/dollar - indicating expected fluctuations ahead - on Tuesday raced to their highest level since Turkey’s 2018 currency crisis. Big falls, thin trades: Trading Turkey's lira 2021-11-25T05:00:00Z Turkey’s lira may be a longtime outlier and an extreme example. Column-Yearend stress catalyzed by a restive dollar: Mike Dolan 2021-11-24T05:00:00Z The currency hit a record low of just over 13 lira to the dollar, before recovering slightly, marking 11 straight days of falls. Turkish lira nose-dives 15% as president defies critics 2021-11-23T05:00:00Z The lira's meltdown coincides with Black Friday sales and the start of new-year discounting, stoking fears that some consumer goods would not be available or face big price hikes. "Not currently available": Turks can't buy iPhones, other electronics after lira plunge 2021-11-24T05:00:00Z The lira tumbled to as low as 13.45 to the dollar, plumbing record troughs for an 11th straight session. Turkish lira in historic 15% crash after Erdogan stokes fire sale 2021-11-23T05:00:00Z The lira reversing some of its losses on Wednesday saw only a small pull back in implied volatility, showing that investors are betting on more swings ahead. Big falls, thin trades: Trading Turkey's lira 2021-11-25T05:00:00Z Victoria Scholar, head of investment at interactive investor, says the lira’s tumble shows the importance of an independent central bank, and echoes Turkey’s currency crisis three years ago: Turkish lira tumbles after president Erdoğan vows victory in ‘economic war of independence’ – business live 2021-11-23T05:00:00Z Investors are losing confidence and the lira has shed some 45% of its value this year, making it the world's worst performing currency. Turkish lira nose-dives 15% as president defies critics 2021-11-23T05:00:00Z The lira has lost 43% of its value this year and more than 22% since the beginning of last week alone. "Not currently available": Turks can't buy iPhones, other electronics after lira plunge 2021-11-24T05:00:00Z Former central bank deputy governor Semih Tumen, who was dismissed last month in the latest of Erdogan's rapid leadership overhaul, called for an immediate return to policies which protect the lira's value. Turkish lira in historic 15% crash after Erdogan stokes fire sale 2021-11-23T05:00:00Z Volatility in the lira is unlikely to end soon. Big falls, thin trades: Trading Turkey's lira 2021-11-25T05:00:00Z The nonsensical dynamics between the lira, inflation and interest rates highlights the importance of an independence central bank with a mandate to keep price rises at bay. Turkish lira tumbles after president Erdoğan vows victory in ‘economic war of independence’ – business live 2021-11-23T05:00:00Z Last week saw the latest in a series of rate cuts, the trigger for an ever-deeper decline in the value of the lira. Turkish lira nose-dives 15% as president defies critics 2021-11-23T05:00:00Z The lira has lost some 40% of its value since the start of the year. Turkish lira plunges 10% after Erdogan defends rate cuts 2021-11-23T05:00:00Z Tuesday's slide was the lira's worst since the height of a currency crisis in 2018 that led to a sharp recession and following years of sub-par economic growth and double-digit inflation. Turkish lira in historic 15% crash after Erdogan stokes fire sale 2021-11-23T05:00:00Z Market gauges for longer-term measures of lira volatility suggest traders expect a rocky road ahead. Big falls, thin trades: Trading Turkey's lira 2021-11-25T05:00:00Z The lira continues to suffer, slumping by more than 30% against the greenback since the start of the month, setting the stage for its biggest one-day drop since March. Turkish lira tumbles after president Erdoğan vows victory in ‘economic war of independence’ – business live 2021-11-23T05:00:00Z Tuesday's slide was the lira's worst since the height of a currency crisis in 2018 that led to a sharp recession, and brought on three years of weak economic growth and double-digit inflation. Turkish lira nose-dives 15% as president defies critics 2021-11-23T05:00:00Z Finally, the Turkish lira is licking its wounds after Thursday's 11% fall triggered by a 100 basis point rate cut. Marketmind: Warning - rate rises ahead 2021-11-19T05:00:00Z The lira has been by far the worst performer globally this year due mostly to what some analysts have called a premature economic "experiment" by the president who has ruled Turkey for nearly two decades. Turkish lira in historic 15% crash after Erdogan stokes fire sale 2021-11-23T05:00:00Z In emerging markets, a gathering currency crisis in Turkey has driven the lira to a record low after the central bank - facing political pressure - cut rates despite inflation running near 20%. Asian shares down as Alibaba's slide reignites China worries 2021-11-19T05:00:00Z In a speech President Erdogan said Turkey was fighting an ‘economic war of independence’, pressuring the lira, which was already at an all-time low. Turkish lira tumbles after president Erdoğan vows victory in ‘economic war of independence’ – business live 2021-11-23T05:00:00Z Though the lira recovered half of its losses by 2pm UK time on Tuesday, the last 11 days have been its worst run since 1999. Turkish lira nose-dives 15% as president defies critics 2021-11-23T05:00:00Z |
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