Turkish lira

?Normally, the Turkish Lira depreciates after even the slightest negative developments, even a flu epidemic. So how come it gained against foreign currencies last week following the country?s deadliest terror attack on Oct. 10??

The Turkish government has revised its national income per capita from U.S. dollar terms into income based on purchasing power parity amid a dramatic loss in the Turkish Lira?s value against the dollar in its new Medium-Term Economic Program, which was published in the Official Gazette on Oct. 11. 

Turkish stocks and the Turkish Lira fell on Oct. 12 while debt insurance costs rose as a blast that killed upward of 128 people over the weekend raised fears of further pre-election turmoil, though many other emerging assets extended their recent gains.

The twin suicide bombing at a peace rally in Ankara is likely to exacerbate uncertainties ahead of the Nov. 1 elections. 

Turkey's economic confidence index took a record plunge in September, data showed on Sept. 29, in the starkest evidence yet of the damage political uncertainty and escalating violence have done to its long-term outlook.

The Turkish Lira dropped to 3.0687 against the dollar on Sept. 29, as political uncertainty ahead of elections weighed on trader sentiment.

In early morning trading on Sept. 29, the lira held at over 3.0680 for several hours.

Emerging market currencies around the world were also brought lower by the release of poor industrial production data from China.

While the world is watching the ?emerging? periphery countries, the most fragile ones are Russia, Brazil and Turkey. South Africa is sometimes considered as well.

I learned the basics of America?s favorite pastime only when the Red Sox were on their way to break the Bambino?s curse in 2004. Therefore, I won?t hold it against you if you have never heard of Yogi Berra.

However, the baseball great, who passed away on Sept. 22, was famous for his ?wise? sayings, some of which apply to the Turkish economy really well.

The markets in Turkey are closed due to the ongoing Eid al-Adha holiday, but the U.S. dollar's rise against the Turkish Lira continued for another day on Sept. 24, breaking a historic record at 3.0738 liras per dollar as the forex trade continued at the international markets.

The holiday in Turkey started Sept. 23 in the afternoon. 

Some 16.6 million agricultural workers, 21.3 percent of the country?s population, will become poorer as agricultural subsidies are insufficient to support them against rising costs due to a dramatic loss in the Turkish Lira, according to a leading academic. 

Turkey's rapidly growing automotive market is likely to see a slowdown in the remaining months of the year, as the local currency's tumble against the euro saps demand and hits balance sheets, an industry expert said.