Economy of Northern Cyprus

Two female tourists from Iran have made a female taxi driver in Istanbul cry by paying the fare with a fake 100 Turkish Lira bill. 

Turkey's competition authority said on Sept. 20 it had fined Google some 93 million Turkish Lira ($15 million) for violating competition laws with its mobile software sales.

Turkey is putting new government investments on hold as it seeks to rein in spending and halt a slide in the Turkish Lira, President Recep Tayyip Erdoğan has said.

Turkey's central bank raised its benchmark rate by 625 basis points on Sept. 13 in a move that boosted the Turkish Lira and may ease investor concerns about monetary policy.

President Recep Tayyip Erdoğan signed a decree early Sept. 13 that requires using the Turkish lira for buying, selling and renting of real estate and leasing of vehicles, in a fresh step to support the ailing local currency.

The Turkish lira gained ground against the U.S. dollar on Sept. 12 ahead of the monetary policy committee meeting of the Turkish Central Bank.

An amateur Turkish numismatist has said he has bought the "most expensive" Turkish Lira banknote from one of his clients in the Netherlands. 

AFP - Inflation in Turkey rose again in August to nearly 18 percent, official statistics showed on Monday, a record since late 2003 and coming after the Turkish lira dramatically weakened against the US dollar last month.

Turkish Central Bank deputy governor and rate-setter Erkan Kilimci is leaving the bank, three sources familiar with the matter told Reuters on Aug. 30, two weeks before the bank's monetary policy committee meets to address a slump in the Turkish Lira.

Turkey has lowered the level of withholding tax on lira bank deposits of more than one year to zero from 10 percent, while raising the tax level on foreign currency deposits of up to one year, the Official Gazette said on Aug. 31.