Economy of Northern Cyprus
Turkish Lira keeps sliding against dollar, euro
The Turkish Lira dropped past 4 per U.S. dollar for the second time in its history early on March 28, coming closer to record levels. The lira plunged to 4.0012 against the U.S. dollar, falling 0.45 percent in the early hours of the trading hours in Turkey, according to Doğan News Agency.
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Ankara Municipality cuts parking fees to 1 lira
The metropolitan municipality of the Turkish capital Ankara has decided to cut the parking fees to 1 lira for 24 hours.
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Turkish Lira continues fall against dollar, euro amid risks
The Turkish Lira continued to decline against both the U.S. dollar and the euro on March 13 amid a series of negative developments.
Turkish home-care giant plans to invest over $150 mln in Pakistan
Turkey’s Hayat Kimya, which manufactures home-care, tissue and hygienic products, has announced a 600 million Turkish Lira ($158 million) investment plan for Pakistan as a part of its expansion strategy in South Asia.
Moscow Stock Exchange begins trading in Turkish Lira
The Moscow Stock Exchange has announced that it has begun trading in the Turkish Lira.
Turkish honey company Altıparmak wins EBRD support
The European Bank for Reconstruction and Development (EBRD) has said it is boosting Turkey’s leading honey company, Altıparmak, with a 20 million Turkish Lira loan (4.4 million euro equivalent) to support the company’s advancement in the value chain.
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Turkish lira hits record low against dollar on strains in US ties
The Turkish lira hit a record low of 3.9780 against the dollar on Nov. 21, accelerating losses to some 17 percent since September as concerns widened about Ankara’s strained relations with the United States and central bank independence.
Turkish Central Bank to launch lira-settled auctions
Turkish Central Bank on Nov. 18 said it has decided to launch Turkish lira-settled forward foreign exchange sale auctions.
Lira weakens to 3.9 against dollar after Erdoğan’s Central Bank comments
The Turkish Lira weakened to 3.9 against the U.S. dollar after President Recep Tayyip Erdoğan’s comments criticizing Central Bank independence early on Nov. 17.
Turks follow Erdogan's call to get rid of dollars & buy gold
The latest World Gold Council report shows Turkey has sharply ramped up gold buying with both the central bank and ordinary people joining the rush.
"Bar and coin purchases, a measure of investment demand, were 47 metric tons so far in 2017, compared with 14.8 tons in the same period a year ago," ZeroHedge quotes the report as saying.