Currency symbols

South Korea and Japan shared "serious concerns" on the recent weakness of their currencies against the dollar and agreed to take "appropriate actions" to counter extreme volatility, the finance ministry in Seoul said Wednesday.

If it could be maintained it would strengthen the embattled peso, allowing tough currency controls limiting dollar access to be unwound

Argentina's Economy Minister, Luis Caputo, declared an unprecedented step to devalue the peso by more than 50%, aiming to rescue the country's struggling economy. This decision, changing the dollar conversion rate to 800 pesos per dollar from 365, comes early in President Javier Milei's tenure.

Buildings in Istanbul. Photo: Pixabay/btastinkaya

According to the new regulation, rent price hikes will be limited to 25 per cent until July 2023.

"Rents can only be increased by 25 per cent. We tried to protect the rights of both tenants and landlords," Turkish Justice Minister Bekir Bozdag told reporters before the parliamentary vote on Wednesday.

Meral Aksener, the leader of the 'Good Party' (IYI) speaks in front of the picture of Mustafa Kemal Ataturk, founder of modern Turkey, in Kocaeli, 19 June 2018. Photo: EPA-EFE/ERDEM SAHIN

Newly printed 200 Turkish lira and 10 Turkish lira banknotes will go into circulation on July 16, ahead of next week's Muslim holiday of Eid al-Adha, or the Feast of the Sacrifice, said an official announcement.

The Turkish Lira cheered Central Bank Governor Şahap Kavcıoğlu's announcement late on June 22 that the country was in talks to secure currency swap agreements with four countries and was close to a deal with two of them.

Kavcıoğlu's remarks came during a meeting with bank executives, according to media reports.

The Turkish Central Bank (CBRT) and People's Bank of China (PBOC) expanded their swap agreement, which was signed in May 2019, by 35.1 billion Turkish liras ($4.12 billion) and 23 billion Chinese yuan ($3.59 billion).

Photo Illustration: Unsplash/Andre Francois Mckenzie

"Crypto-assets [may not be] used directly or indirectly in the provision of payment services and electronic money issuance," TCMB wrote in new rules published on Friday.

The lira lost 17% of its value in the Asian markets