Investors have been leaving Turkey for the last couple of months, pushing the lira, which plunged from 2.75 to around 2.9 in 10 days into the ground There has been an acceleration in foreign investors' exit from the Turkish market after coalition options failed, conflicts escalated in southeastern Anatolia and both the United States and Germany decided to remove their Patriot missiles fr
Turks are now acting as if it came as a surprise. The Turkish Lira has lost around 9 percent of its value against the dollar in a single month. If you take January of this year as the starting point, the lira has lost around 27 percent of its value. Why?
After hitting 3 for the first time ever in the early hours of Aug. 20, the Turkish Lira-dollar exchange rate recovered somewhat during the day. Several readers have asked me if the lira?s slide would continue. Well? yes and no.
The Turkish Lira weakened to fresh record lows against the dollar early on Aug. 20, briefly touching a level of 3 against the dollar for the first time, before recovering to 2.96.
Political uncertainty and conflicts in the country's southeastern regions have had a negative impact on investor sentiment and caused the lira to plunge to record lows.
The precipitous fall in the value of the Turkish Lira does not portend a crisis in Turkey, a key advisor to President Recep Tayyip Erdo?an said on Aug. 19.
Cemil Ertem?s remarks came a day after the lira again hit record lows against the dollar after the Turkish Central Bank announced that it was holding interest rates at current levels.
The International Finance Corporation (IFC) said on June 22 it has introduced an innovative financial instrument to expand the availability of Turkish Lira financing for private enterprises in Turkey.
The IFC, a member of the World Bank Group, has become the first multilateral institution to issue lira-denominated discount notes.
The Turkish currency fell for the eighth consecutive day on June 1, down around 0.8 percent against the U.S. dollar to 2.68.
The Turkish Lira has fallen around 5 percent against the dollar since mid-May, amid rising uncertainties ahead of the general election on 7 June and a drop in the value of the euro amid the ongoing Greek crisis.