Turkish lira

Turkey's Central Bank on Dec. 1 intervened to prop up the value of the Turkish Lira.

Meral Aksener, the leader of the 'Good Party' (IYI) speaks in front of the picture of Mustafa Kemal Ataturk, founder of modern Turkey, in Kocaeli, 19 June 2018. Photo: EPA-EFE/ERDEM SAHIN

Spontaneous protests took place in Istanbul and Ankara after the collapse of the Turkish lira, Hulk TV reported.

The protesters demanded the resignation of the government and the resignation of the ruling Justice and Development Party. The police dispersed the demonstrators.

Commenting on volatility in the foreign exchange markets, Turkey's Central Bank on Nov. 24 decried "unhealthy" and "unrealistic" price formations in those markets, saying they are completely detached from economic fundamentals.

The Turkish Central Bank "implements a floating exchange rate regime and has no commitment to any exchange rate level," it said in a statement.

Turkish central government's gross debt stock totaled almost 2.27 trillion Turkish liras ($200 billion) at the end of October, official figures showed on Nov. 22.

The Treasury and Finance Ministry's data showed that the figure was up 4.1% from the previous month.

A growth model would not be sustainable if not based on efficiency development, Treasury and Finance Minister Lütfi Elvan said in a parliament commission meeting on Nov. 12.

The Turkish Treasury's cash balance posted a deficit of 5.24 billion Turkish liras ($540 million) last month, according to official figures revealed on Nov. 5.

In October, Treasury's cash revenues totaled 123.7 billion Turkish liras ($12.76 billion), the Treasury and Finance Ministry said.

The number of Türk Telekom's subscribers rose to 51.4 million, while the company revised up its revenue, profit and investment forecasts for 2021, according to the company's third-quarter results announced on Nov. 3.

Türk Telekom, Turkey's prominent telecommunications company, has 14.1 million broadband customers as of the end of September, the statement said.

Pressure eases on lira after Turkey president retreats over envoys’ expulsion threat

The Turkish central government's gross debt stock amounted to 2.18 trillion Turkish liras ($246 billion) at the end of September, official figures showed on Oct. 20. 

The Treasury and Finance Ministry's data showed that the figure was up by 17.2% versus the end of September last year.