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Tag: lira
What the sliding lira and economy mean for Turkey’s banks
India’s rupee hits an all-time low as the Turkish lira crisis spills over to other currencies
Thomson Reuters The Indian rupee briefly fell to an all-time low of 70.1 per US dollar in Tuesday trade. Indonesia’s currency also fell to a multi-year low as government ministers discussed strategies to prop up the currency. JP Morgan’s emerging markets foreign exchange index is on track for its biggest monthly fall in six years. […]
Turkey’s central bank promises ‘all necessary measures’ to save its financial system amid lira collapse
The Central Bank of the Republic of Turkey (TCMB) has outlined a range of measures to bolster liquidity and support the financial system. The lira plunged as much as 10 per cent during the Asian markets trading session after a fall of 25 per cent against the US dollar last week — moves that rattled […]
Turkey blames Trump for attack on lira, says it won’t ‘kneel’ and has counter-measures ready
Turkey has accused Donald Trump of leading an attack on its national currency. The lira lost about 40 percent of its value against the US dollar this year and, to reduce its volatility, Ankara has prepared an urgent action plan. “The currency of our country is targeted directly by the US president,” Finance Minister Berat […]
Turkish lira plummets to all-time low as US sanctions begin to bite
Investors are dumping Turkey’s national currency, the lira, after Washington imposed sanctions relating to the trial of an American pastor accused of backing terrorism. The lira hit an all-time low of 5.11 versus the dollar on Friday after the US sanctioned two of President Recep Tayyip Erdogan’s ministers who played a key role in detaining […]
Erdogan calls on Turks to dump dollars and euro for lira
Turkish President Recep Tayyip Erdogan has advised his countrymen to convert savings held in the US and EU money into the national currency, the lira, after it lost 20 percent of its value. “My brothers who have dollars under their pillows, go and invest your money in the lira. We will foil this plan all […]
The Turkish lira is plunging after an emergency rate hike
Thomson Reuters The Turkish lira continued selling off Thursday. It had dropped to all-time lows Wednesday, prompting the central bank to raise interest rates ahead of its June meeting. Follow the lira in real time here. The Turkish lira continued sinking Thursday as investors blew off an emergency interest rate hike. The lira was down […]
