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.
Greek stocks staged a remarkable turnaround on Thursday, as they swapped losses for gains, boosted by the reversal of bank stocks' fortunes. This was mainly seen as a reaction to the recent decline of prices from the January 4 peak, and was implemented on the highest daily turnover so far this year.
Fitch has downgraded its assessment of four Turkish banks on Sept. 11 due to increased risks to the banks' performance following the recent market volatility and higher chances of a "hard landing" for the Turkish economy.
Turkey's Ministry of Trade has said it launched probes into companies that hiked their prices "abnormally" amid currency volatility.
Turkey has a strong resilience and great growth potential, despite shirt-term volatility, Japan's Ambassador to Ankara Akio Miyajima told Hürriyet Daily News calling for concrete measures for stability of Turkish economy.