The U.S. dollar and euro took an over 22% nosedive late Monday after the statements of Turkish President Recep Tayyip Erdogan in which he detailed Turkey’s steps to battle high inflation and fluctuating currency rates. [ More … ]
Talks began on Wednesday with Lebanon seeking a multi-billion-dollar bailout to avoid bankruptcy. Lebanon’s leaders are seeking a financial lifeline from the International Monetary Fund. Talks began on Wednesday with Lebanon seeking a multi-billion-dollar bailout [ More … ]
BY: Burhanettin Duran The Trump administration’s policy of economic selfishness doesn’t just make the U.S. look like a vulgar and isolated superpower, but at the same time encourages the world’s leading economies to work more [ More … ]
BY: Erdal Tanas Karagöl The Gezi Park events, the Dec. 17-25 judicial coup in 2013, the July 15 coup attempt in 2016 and the latest attack on the economy through the exchange rate, which Turkey [ More … ]
German Economy Minister Peter Altmaier has sharply criticized U.S. President Donald Trump’s tariffs and sanctions policies, saying such measures were destroying jobs and growth and that Europe would not bow to U.S. pressure regarding Iran. [ More … ]
The Turkish lira swiftly recovered against the dollar and euro late Wednesday, after news of the Central Bank’s (CBRT) emergency meeting. The emergency meeting made crucial decisions to curb the value of the currencies against [ More … ]
Dollar to Turkish lira rate slips in line with US dollar weakness in almost all major currencies and emerging markets. However, investors just want Turkey’s 16 April referendum done with and think of how markets are most [ More … ]
Turkish central bank has announced to open foreign exchange depot market to enhance flexibility and instrument diversity Turkey’s Central Bank has decided to open Foreign Exchange Deposits against Turkish Lira Deposits market to increase flexibility [ More … ]
USD/lira exchange rate down to 3.81 amid central bank move to cancel 1-week repo auction, after hitting 3.94 on Wednesday Turkey can handle the recent volatility in its local currency, marked by record lows against [ More … ]
By: İbrahim Karagül* The thing Turkey has been discussing over the dollar, the mobilization it has been carrying on through the national economy discourse, the joint solidarity it has been trying to form with economy [ More … ]
After the Central Bank of Egypt had liberalized the exchange rate of the Egyptian pound, Egyptian debt reached 742.5 billion Egyptian pounds (£38 billion), according to Middle East Monitor, citing Al-Mesryoon, an Egyptian independent news [ More … ]
Seeking to meet the International Monetary Fund demands, Egypt took unprecedented step of floating of its currency to trade freely as it announced a series of sweeping measures to stabilize an economy badly affected by a [ More … ]
Business is in a near-halt in Egypt as companies struggle to keep pace with a rapid slide in the black-market value of the pound, according to a report published by Reuters on Tuesday. A sense of panic [ More … ]
Egypt’s currency crisis is escalating as its national currency continues to decline against the dollar in the parallel market, amid growing signs of a currency devaluation, with the government talking about painful necessary economic reforms, [ More … ]
BY: Abdel-Hafez Al-Sawi* The past days have remarkably witnessed an accelerating decline in the value of the Egyptian pound, to the extent that the decline in the pound’s value against the dollar occurred more than [ More … ]
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