Erdogan picks low-rates champion as finance minister as Turkish lira skids

Erdogan picks low-rates champion as finance minister as Turkish lira skids

Turkish President Tayyip Erdogan speaks during a news conference after his meeting with German Chancellor Angela Merkel (not pictured) at Huber Mansion in Istanbul, Turkey October 16, 2021. REUTERS/Murad Sezer/File PhotoRegister now for FREE unlimited access to reuters.comRegisterNew minister has backed Erdogan’s drive to cut ratesLira eases after appointment, following November routMove marks latest overhaul … Read more

‘Our Money Has No Value’: Frustration Rises in Turkey at Lira Crisis

‘Our Money Has No Value’: Frustration Rises in Turkey at Lira Crisis

ISTANBUL — Lines outside bread stores and gas stations; farmers defaulting on loans; impromptu street demonstrations. The signs of economic distress in Turkey are all too clear as the lira continues a dizzying slide.Sporadic protests have broken out around Turkey and the opposition parties have called for a series of rallies to demand a change … Read more

Turkish lira hits record low after Erdogan seeks expulsions

Turkish lira hits record low after Erdogan seeks expulsions

A money changer holds Turkish lira banknotes at a currency exchange office in Ankara, Turkey October 12, 2021. REUTERS/Cagla GurdoganISTANBUL, Oct 24 (Reuters) – The Turkish lira weakened 1.6% to a record low against the dollar in early Asian trade after President Tayyip Erdogan said he had ordered the expulsion of the ambassadors of the … Read more