Maltese lira

The Turkish Lira slid against the U.S. dollar on Nov. 8 amid a number of concerns which put pressures on the Turkish currency, including ongoing strains in Turkish-U.S. ties.

The Turkish central bank said on Nov. 6 some 5.3 billion lira ($1.37 billion) of lira liquidity will be withdrawn from the market and some $1.4 billion of dollar liquidity provided to banks under a change in reserve requirements. 

Turkey's benchmark stock index hit its highest level of all times by climbing to 110,409.43 points during the afternoon session on Aug. 28.

Borsa Istanbul's BIST 100 index closed last week at 109,755.14 points and it started Aug. 28 at 110,175.25 points with a 0.38 percent hike.

The euro rose to 4.1890 against the Turkish Lira early on Aug. 2, after a 0.6 percent increase compared to previous trading, hitting an all-time high against the lira. 

The index later regressed to 4.1730 by noon. 

Most of the Turkish companies rated by Moody's are able to cope with the recent slide in the value of the Turkish Lira thanks to their foreign exchange reserves and foreign currency inflows, Moody's said March 9.        

The Turkish Lira appreciated against the U.S. dollar early on Feb. 23 amid hints from the Federal Reserve pointing to rate hikes as soon as March.       

The U.S. dollar/Turkish Lira rate dipped to as low as 3.5756 points, the lowest figure since Jan. 4, when the rate began its move toward its historic high of 3.9423 on Jan. 11.        

Turkey's Central Bank on Jan. 24 increased the upper limit of its interest rate corridor to 9.25 percent from 8.5, a move that proved fruitless on the ailing Turkish Lira. 

The Central Bank's Monetary Policy Committee (PPK) kept its one-week repurchasing rate unchanged at 8 percent while the overnight borrowing rate was kept at 7.25 percent.

Turkish President Recep Tayyip Erdoğan is set to hold a meeting late on Jan. 16 with top economy officials, including ministers, senior civil servants and Central Bank Gov. Murat Çetinkaya, to discuss the recent volatility in the Turkish Lira and other economic developments, according to sources.

The Central Bank has many instruments to counter "speculative" moves around the struggling Turkish Lira and its hands are not bound by political pressure, Economy Minister Nihat Zeybekci claimed on Jan. 13. 

Turkey's embattled lira took a new pounding on Jan. 11 on foreign exchange markets as emergency measures announced by the Central Bank failed to impress markets.

The Turkish Lira has lost almost 10 percent in value against the U.S. dollar since the start of this year alone, falling to 3.84 to the greenback, having earlier reached a new historic low of 3.89.