Turkish lira
Turkish lira plummets to record lows on possible rate cut
The Turkish lira weakened to as low as 2.42 against the dollar Jan. 29 on expectations that the Turkish Central Bank will cut interest rates at an extraordinary monetary policy committee meeting as early as next week.
Turkish lira weakens to record low on rate cut expectations
The Turkish lira tumbled to a new record low against the dollar today on expectations that the Central Bank will cut interest rates at an extraordinary monetary policy committee meeting as early as Feb. 4.
Central Bank didn't get message, says Turkish President Erdo?an
Turkish President Tayyip Erdogan has said the Central Bank?s 50-basis point rate cut announced on Jan. 20 was "insufficient," adding that securing investment and employment was impossible at current interest rate levels.
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.
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Turkish Central Bank maintains rates despite pressure
Turkey's Central Bank on Dec. 24 kept its main interest rates unchanged, again despite pressure from the government and President Recep Tayyip Erdoğan for a cut to stimulate growth.
Turkish Lira hit by domestic, foreign factors
The Turkish Lira hit record lows this week due to several factors. The currency is like a pendulum swung in the middle of both domestic and foreign developments.
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Turkish Lira hits new record low on emerging market jitters
The Turkish Lira hit a new record low on Dec. 16 as investors moved out of emerging markets amid the collapse of the Russian ruble and fretted over the impact of recent raids against Turkish media.
Turkish Lira hits two-month low over record decline in industrial output
Turkish industrial output has posted its steepest decline in a year in October, official data has shown, sending the Turkish Lira to a two-month low against the U.S. dollar.
Turkey’s Bank Asya closes 80 branches, cuts workforce by 1,708
Turkeyâs embattled Bank Asya has said in a written statement to the Istanbul Stock Exchange that it has closed 80 branches, merging them with existing branches, and cut 1,708 jobs since the end of 2013.
Turkey’s Bank Asya hurt by large loss after row with government
Turkeyâs 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.