content tagged with foreign exchange rate

Turkish lira hits rock bottom ahead of presidential runoff vote

Turkish lira hits rock bottom ahead of presidential runoff vote

The USD/TRY exchange rate surged to 20.47 in the morning, while the disparity between the free market rate and the informal market rate narrowed.

'It hurts only the poor': Turkey's finance minister defends 'high growth-high inflation' policies

'It hurts only the poor': Turkey's finance minister defends 'high growth-high inflation' policies

Admitting that the government could have raised the interest rates to curb the inflation, Minister Nebati has unintentionally contradicted President Erdoğan's theory that higher interest rates bring higher inflation.

'Minimum wage for all'

WEEKLY ROUNDUP #13

'Minimum wage for all'

Government raises minimum wage sharply but lira is sinking faster • Is the main reason for drought in Turkey the climate crisis or wrong water policies? • Four deaths in a week put spotlight on ill prisoners’ situation

18 December 2021 Volga Kuşçuoğlu

Turkish lira hits new record low despite Central Bank interventions

Turkish lira hits new record low despite Central Bank interventions

The lira plunged to as low as 14.61 to the US dollar and 16.47 to the Euro in the first half of the day.

13 December 2021

Turkish lira nears 14 to US dollar as Erdoğan speaks again

Turkish lira nears 14 to US dollar as Erdoğan speaks again

"We are refusing the policy of drawing hot money flow with high interest rates," the president has said.

1 December 2021

Erdoğan insists interest rates cause inflation, cites his 'economics education'

Erdoğan insists interest rates cause inflation, cites his 'economics education'

Thanks to his low interest rate policies, the inflation rate will decrease by the next elections, the president has asserted.

29 November 2021

Opposition lashes out at Erdoğan as dollar spikes following interest rate cut

Opposition lashes out at Erdoğan as dollar spikes following interest rate cut

The exchange rate of the US dollar has surpassed 11 against the Turkish lira. The opposition questions the sharp decrease just before the announcement of the policy rate decision.

19 November 2021

Erdoğan: Justifying Interest Rate Hike is a Vain Attempt

Erdoğan: Justifying Interest Rate Hike is a Vain Attempt

Speaking about the high exchange rate, President Erdoğan has said, “I see the attempts to justify the interest rate hike by means of manipulations in economy as a vain attempt”.

12 December 2017