lira

© Reuters. FILE PHOTO: A money changer counts Turkish lira banknotes at a currency exchange office in Ankara, Turkey November 11, 2021. REUTERS/Cagla Gurdogan By Nevzat Devranoglu and Ezgi Erkoyun ISTANBUL (Reuters) - rallied further…

President Recep Tayyip Erdogan’s savings scheme has revived the lira. The Turkish currency is up a third against the dollar this week, trading at TL12.4 to the greenback on Wednesday following his proposal to compensate savers for…

Turkey’s foreign currency reserves have tumbled by billions of dollars since the start of the week, suggesting that aggressive interventions have aided the lira’s bounce back from record lows.The lira had fallen significantly…

© Reuters. FILE PHOTO: A money changer holds Turkish lira banknotes at a currency exchange office in Ankara, Turkey September 27, 2021. REUTERS/Cagla Gurdogan/File Photo By Tuvan Gumrukcu and Nevzat Devranoglu ANKARA (Reuters) -…

Turkey’s lira rallied in the second day of chaotic trading after President Recep Tayyip Erdogan unveiled a new savings scheme that analysts described as a backdoor interest rate rise that could erode the public finances.The gains on…

The Turkish lira continued its freefall after President Recep Tayyip Erdogan rejected warnings from business about the dangers of recent interest rate cuts and vowed there was “no going back” from his approach.The currency, which has…

Turkey halted trades on the Istanbul bourse as this year’s second biggest selloff for the market triggered circuit breakers while the lira extended its drop to a fresh record low. Trading of equities, equity derivatives and debt repo…

© Reuters. FILE PHOTO: Turkish lira banknotes are seen placed on U.S. Dollar banknotes in this illustration taken, November 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo By Ezgi Erkoyun and Nevzat Devranoglu ISTANBUL (Reuters)…

Turkey’s president Recep Tayyip Erdogan pushed on with his risky economic “experiment” as the central bank cut interest rates for the fourth month in a row despite rising inflation.The bank lowered its benchmark lending rate by 1…

Turkey’s lira fell to a record low, breaching 14 to the dollar, as investors braced themselves for President Recep Tayyip Erdogan pushing on with another interest rate cut later this week despite intense inflation.The currency, which…