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Erdoğan replaces head of Turkish Central Bank after lira plunge

Turkish President Recep Tayyip Erdoğan has dismissed the head of the country’s central bank and replaced him with a former finance minister as the...
Business

Turkish Airlines lost $614 mln in first 9 months of 2020: report

Turkey's national flag carrier Turkish Airlines (THY) recorded a net loss of TL 5.2 billion ($614 million) during the first nine months of 2020...
Business

Turkish lira hits another historic low against US dollar

Turkey's lira once again weakened to a record low against the US dollar on Tuesday, standing at 8.489 to the dollar and 9.930 to...
Business

Fitch downgrades Turkish economy’s outlook to ‘negative’: report

Ratings agency Fitch revised Turkey's outlook to "negative" from "stable" on Friday, citing depleting foreign exchange reserves, weak monetary policy credibility and a sizable...
Business

Turkish economy has regained pre-pandemic momentum, Erdoğan claims

Turkey's economy has regained the momentum it was seeing before the COVID-19 outbreak, President Recep Tayyip Erdoğan said on Wednesday. “Despite some troubles not originating...
Business

Turkish lira slips again as calls grow for decisive action: report

Turkey's lira weakened again on Monday after touching a record low last week, slipping 0.4 percent as the central bank continued to raise borrowing...
Business

Turkey mounts new defense of lira as locals snap up dollars: report

Turkey’s central bank squeezed some credit channels and signaled on Friday it would do more backdoor policy tightening to arrest a record drop in...
Business

Turkish lira hits another historic low amid pandemic: report

Turkey's currency tumbled further Friday, hitting another record low, according to The Associated Press. The Turkish lira dropped to 7.3677 against the dollar before making...
Business

Turkey’s lira slides to record low despite central bank efforts: report

The Turkish lira tumbled to a record low on Thursday, despite efforts by the central bank to reassure investors that the country’s economy is...
Business

Turkey’s lira nears record low against euro amid concerns over EU sanctions

Turkey's lira approached a record low against the euro on Monday, driven by state interventions that have tied it to the dollar and also...
Business

Turkish lira lowest since mid-May after jump in inflation: report

Turkey’s lira slipped to its weakest since mid-May late on Friday after Fitch said the country still faces external financing risks and that its...
Business

Turkish central bank unexpectedly halts interest rate easing cycle: report

Turkey’s central bank unexpectedly halted a nearly year-long easing cycle on Thursday by keeping its key interest rate unchanged at 8.25 percent and citing...
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