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Turkish lira

Inflation in Turkey Soars to 36%; Experts Say Could Reach 50%

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...

Stock Market Sees Double-Digit Gains in 2021 in Pandemic Rebound

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...

Turkish Lira Hits New Low Point, Plunging 5.6%

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...

Bread Lines Grow in Turkey as Inflation Rises

Bread lines spanned blocks in Istanbul, Turkey on Monday as inflation rises. Scores of Istanbulites have turned to the city's subsidized bread program, Istanbul Halk Ekmek (which translates to "Public Bread"), in order to save money as the Turkish lira...

Crisis in Turkey Forces Vendors to Sell the Delicacy Koulouri Cut in Half

The economic crisis and spiraling price rises in Turkey have forced street vendors to sell their iconic bread koulouri, or as Turks call it “simit”, cut in half. Turkish citizens are having increasing difficulties coping with the rising prices of...

Turkey’s Lira Dives 15% in Second-Worst Day Ever

Turkey's lira skidded an incredible 15% on Tuesday as the nation weathered another drop in the value in its currency, amounting to 45% over 2021. Constituting its second-worst day in history, the lira took a nosedive after Turkish President Recep...

Turkish Lira Slides Further as Trump Announces US Tariffs

U.S. President Donald Trump has tweeted to confirm he will double steel and aluminum tariffs on Turkish imports as the lira crashed to 6.51 per dollar, putting pressure on President Recep Tayyip Erdogan. Erdogan has already called on Turks to...

Greek Companies Anxious About Turkish Political Instability

  The radical developments on the political scenery of Turkey lately have caused anxiety among policymakers of more than 500 Greek companies that have “cashed” money to the neighboring country. The companies’ officials believe that their investments are not at...