2021 was a rough year for the people of Turkey, as the country experienced rapid devaluation of its currency, the lira. Things haven’t improved in 2022 as the lira has suffered since Russia invaded ...

LONDON/ANKARA (Reuters) - As Turkey's lira hit a record low ahead of the country's election decider on Sunday, the currency is looking increasingly dysfunctional with investors concerned about what ...

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At the beginning of the week, President Erdogan's executive presidential system came into effect, the President wasted no time in utilising his new powers. Firstly, Erdogan changed the Turkish Central ...

A currency crisis here is battering Turks’ confidence in their government’s ability to manage the economy, causing droves of people to buy U.S. dollars and sending crowds of people into the streets to ...

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not ...

Turkish President Recep Tayyip Erdogan told the ruling party's Congress and general supporters on Saturday that he would challenge those playing "games" with the Turkish economy, following news that ...

The cost of borrowing Turkish liras overnight in the offshore market surged to the highest level since March 2019 after heavy interventions late last week drained the supply of local currency. The ...

The economic crisis in Turkey deepened this morning, despite moves by central bank officials in Ankara to calm the flight from the currency. The Turkish lira has lost 39 percent of its value since the ...

ISTANBUL, Turkey — Starting today, Turks will no longer have to shell out millions to buy a stick of chewing gum. Tourists will no longer have to squint at the bills they receive, trying to count the ...

The Central Bank has cut interest rates, even as inflation continues to soar, deepening President Erdogan’s disputed economic plan and setting off a new plunge in the lira. By Carlotta Gall ISTANBUL — ...