Category: Economy
Hunting for extra foreign funding, Turkey this month sealed a deal with Qatar to triple a currency swap line to $15bn, helping to raise the Turkish central bank’s net foreign exchange reserves to $32bn last ...
Turkey managed GDP growth of 4.5% y/y in the first quarter, but thanks to the coronavirus (COVID-19) crisis, the party is over before it’s begun—the latest activity figures are “ominous and point to a collapse ...
Turkish President Recep Tayyip Erdogan on May 12 asked the central executive committee of his Justice and Development Party to speed up plans for the government to take over a 28 percent stake in Isbank, the country’s ...
Turkey secured a tripling of its currency-swap agreement with Qatar to $15 billion, the central bank said on Wednesday, providing some much-needed foreign funding to reinforce its depleted reserves and help steady the Turkish lira. ...
Ankara stopped three global banks from speculating on the lira after the currency fell to a record low. Rumors spread that the West is trying to harm Turkey, when, in truth, investors were spooked by ...
Turkey’s president, Recep Tayyip Erdoğan, is a populist juggernaut, fond of suggesting that his leadership is the only way to protect the country from enemies both real and imagined. The coronavirus pandemic, however, is an existential ...
ISTANBUL (Reuters) – Turkey’s foreign cash needs are not the sort of thing the U.S. Federal Reserve is likely to relieve given its economic challenges and volatile diplomatic relations with the United States, the New ...
Turkey had the opportunity to see the Turkish Lira (TL) retreating from the record level of 7.20-7.26 TL/USD. The Turkish currency appreciated nearly 4% from those deadly rates, staying now comfortably below the 7TL/USD level. ...
US swap line with Turkey deemed unlikely as Ankara struggles to deal with mounting economic woes Coronavirus pandemic has piled added pressure on Turkey’s national currency, pushing it back to 2018 crisis levels Turkey’s hopes ...
The Turkish lira fell to 7.26 against the dollar on Thursday, surpassing the previous record low of 7.24 reached during a currency crisis in August 2018.(AP Photo/Burhan Ozbilici) Regulatory agency bans 3 major international banks from ...
