Lira

Facing the reality

For the first time since the July 15, 2016, failed coup, I spent a full nine-day cut off from what's been going on in Turkey. This was not the first time. Together with a group of very close friends, who have become closer than family members to us, we were on a cruise tour in western Mediterranean.

Turkish Lira hits 9-month high as GDP growth rate announced at 5.1 percent

The Turkish currency continued its recovery against the U.S. dollar on Sept. 11, after the country's official statistics authority announced soaring economic growth.      

The dollar/lira exchange rate dropped to 3.3986 at around 11 a.m. local time (08:00GMT), down from 3.4080 at Friday's close, ahead of emerging market peers.

Romania's Paravion shuts Turkish business, blames security, currency depreciation

Romania's oldest online travel agency Paravion.ro will undergo restructuring and shut its Turkish unit Bavul due to security issues in Turkey and currency depreciation, it said on Aug. 7.

Paravion took over online tourism platform Bavul, which has about 300,000 users, from Turkish mobile operator Turkcell in 2015.

European bank participates in bond program of Turkey's Doğuş Holding

The European Bank for Reconstruction and Development (EBRD) has said it is taking part in a bond issue from leading Turkish conglomerate Doğuş Holding with an investment that aims to strengthen the local corporate bond market and attract more institutional investors to Turkey. 

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