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Opposition leaders take action as Turkish lira drops to record low

Opposition party leaders have started to take action to stop the depreciation of the Turkish lira, which weakened to a record low of 13.49...
Business

Erdoğan’s remarks defending CB’s policy rate send lira to historic low

The beleaguered Turkish lira weakened to a record low on Tuesday, losing 13 percent against the US dollar after President Recep Tayyip Erdoğan defended...
Business

No lasting recovery in sight for lira unless CB frees itself from Erdoğan: FT

Investors and analysts have argued that there is little prospect of a lasting recovery for the lira unless Turkey’s central bank can somehow free...
Business

Opposition party to file criminal complaint against Turkish Central Bank governor

Turkey's opposition Homeland Party (MP) has announced that it will file a criminal complaint against Turkish Central Bank Governor Şahap Kavcıoğlu and members of...
Business

Reactions mount against another rate cut by Turkey’s central bank

Politicians, economists and social media users have criticized the Turkish Central Bank’s latest move to cut its policy rate by 100 basis points to...
Business

Turkish lira sinks as central bank cuts interest rate

The Turkish lira sank further on Thursday as the central bank slashed interest rates for the third consecutive month following pressure to do so...
Business

Turkish lira hits record low as Erdoğan vows to fight high interest rates

The Turkish lira hit a record low of 10.63 to the US dollar with the expectation of an interest rate reduction after President Recep...
Business

Turkey’s troubled lira accelerates record slide

The Turkish lira suffered one of its biggest falls of the year on Tuesday and hit new historic lows to cement its status as...
Business

Turkey posts $7.6 billion budget deficit in first 10 months

The Turkish government ran a deficit of 17.4 billion lira ($1.7 billion) in October, bringing the budget deficit in the first 10 months of...
Business

Spain’s BBVA seeks full ownership of Turkish lender Garanti

Spain's second-largest bank BBVA said Monday it has launched a bid to take full control of Turkish lender Garanti, issuing a vote of confidence...
Business

Opposition blames AKP gov’t for Turkish lira hitting record low of 10 to US dollar

Opposition parties have slammed Turkey’s ruling Justice and Development Party (AKP) government as the lira, which has weakened by more than a quarter so...
Business

Turkish lira hits new depths near 10 to the dollar

The Turkish lira continued its dive into uncharted territory on Thursday, touching a new low of 9.975 to the dollar after a jump in...
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