lira

Turkey’s central bank raised the key interest rate Thursday, almost doubling it from 8.5% to 15% as the new economic administration of recently re-elected President Recep Tayyip Erdogan embarked on a dramatic monetary policy U-turn. The whopping 650-basis-point rate rise...

Turkey's lira and stocks fell on Monday as the presidential election appeared headed for a runoff with incumbent president Tayyip Erdogan in the lead. The lira fell near a two-month low, and the cost of insuring exposure to the country's...

Turkish President Recep Tayyip Erdogan released a statement earlier this month announcing that he will change Turkey's name to "Turkiye." "The word 'Turkiye' represents and expresses the culture, civilization and values of the Turkish nation in the best way," read...

Inflation in Turkey soared to 36%, the highest in Erdogan era, and it may be headed for the stratosphere, up to a possible 50%, some experts say. With prices for food and drink up nearly 44% annually, Turkey's economic status...

The stock market is ending 2021 with near-historic highs after the slings and arrows thrown at it from yet another year of the pandemic. After a slight dip, the market is set to close at near-record high levels after an...

Greeks and Bulgarians are rushing to the border city of Edirne (Andrianoupolis) in Turkey to shop -- and even buy property -- as the nation's currency, the lira, is collapsing, Turkish daily Hurriyet reports. The lira dropped as much as...

The Turkish lira dipped another 5.6%, hitting record lows against the US dollar on Thursday after the country's central bank slashed its policy rate in line according to the unorthodox economic scheme created by President Tayyip Erdogan. The currency hit...

Saying they would no longer put up with being told what to do and to keep imposing pay cuts, tax hikes, slashed pensions and seizing bank accounts so that foreign bankers putting up bailout loans could be paid back,...