Turkish lira

Turkey's Central Bank on Thursday raised the transaction limit of total swap sales which have not matured in the Turkish lira currency swap market.     

The Turkish lira eased to 5.62 against the dollar early on Wednesday, remaining under pressure after weakening a day earlier as the United States halted delivery of equipment related to a Turkish order of F-35 fighter planes.

The erosion of Turkey's foreign currency reserves is a credit negative and Central Bank use of reserves to prop up the Turkish Lira currency poses renewed questions on its transparency and independence, Moody's Rating Agency said on April 1.

Setbacks that Turkish President Tayyip Erdogan's ruling AK Party suffered in Sunday's local elections will prod him into making the wrong economic policy choices. He is all the more likely now to opt for short-term fixes rather than the more profound changes that investors want but which would take time to combat recession.

Turkish President Recep Tayyip Erdoğan has reiterated his call for lowering interest rates amid an ongoing fluctuation in the Turkish Lira which he described as an attempt by the West, particularly the United States, to corner Turkey ahead of the municipal elections.

The European Bank for Reconstruction and Development (EBRD) announced on Feb. 26 that it has invested 40 million Turkish Liras ($ 7.54 million) in a 200 million lira bond issued by Turkey's leading supermarket operator, Migros.

The Central Bank of Turkey (CBRT) on Saturday announced it posted a net profit of nearly 56.3 billion Turkish liras ($10.7 billion) in 2018.

The fluctuation in the value of the Turkish Lira has driven tourism companies and hoteliers to shift their focus from domestic visitors to foreign visitors.

The poverty threshold for a family of four was 6,543 Turkish Liras ($1,232) monthly as of January, a 3.5 percent increase from the previous month, the Confederation of Turkish Labor Union (Türk-İş) has announced.

Some 13 Turkish lenders have launched a 20 billion Turkish Lira ($3.7-billion) finance package for small and medium-sized enterprises (SME), the treasury and finance minister has announced.