President Recep Tayyip Erdogan on Thursday ordered by decree that property agreements must be made in Turkish lira, in a new bid to prop up the beleaguered currency.
Turkey's central bank on Thursday announced a surprizing hike on interest rates, in the face of soaring inflation and plunging lira, shortly after President Recep Tayyip Erdogan criticized…
The Fitch ratings agency on Tuesday downgraded its assessment of four Turkish banks due to increased risks after the lira's slump and higher chances of a "hard landing" for the Turkish…
The IMF urged Turkish authorities faced with a falling currency and surging inflation to pursue "sound" economic policies to stabilize the situation.
Turkish President Erdogan vowed Ankara would pursue non-dollar transactions in trade with Russia and other countries, accusing the US of behaving like "wild wolves."
President Erdogan said despite efforts to target the Turkish lira, the currency collapse will end.
Turkey's embattled lira tumbled almost five percent in value as the resignation of the deputy central bank governor intensified market concerns over the direction of monetary policy.
Turkey has to deal with $179 billion external debt that is almost equal to a quarter of its annual economic output, according to an estimate by JPMorgan reported on Wednesday.