Turkish lira

Turkish Lira under dollar pressure

The year 2014 has been one in which the Turkish Lira plummeted under heavy pressure from the U.S. dollar. The lira last saw such pressure in 2009, the year when the global crisis took hold of Turkey. After overcoming that crisis, it again experienced the stress created by the climbing dollar in 2014. The lira is entering the new year with a lot of accumulated stress.

Turkey’s Bank Asya hurt by large loss after row with government

Turkey’s Bank Asya reported a net loss in the third quarter partly due to a rise in bad loans, but said it was hopeful of a turnaround following the political turmoil that has surrounded it this year.

The Islamic bank made a 301 million Turkish Lira ($133 million) net loss after a 60 million lira profit a year earlier.

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