Lira

Turkey’s Central Bank Posts Record $20 Billion Loss

Turkey's central bank revealed a staggering loss of 818.2 billion lira ($25.25 billion) for the year 2023, according to a…

9 months ago

Turkish lira is hitting record lows as elections loom

The Turkish lira fell to an all-time low against the US dollar on Tuesday as uncertainty loomed over the outcome…

2 years ago

Turkey’s economy is on the verge of bankruptcy, says report

Turkey’s economy is on the verge of bankruptcy, according to a report submitted by economic experts to opposition leader Kemal…

2 years ago

Moody’s downgrades Turkey as balance-of-payment risks mount

Credit rating agency Moody’s downgraded Turkey’s rating to B3 from B2 on Friday, changing its outlook to stable from negative,…

2 years ago

Erdoğan claims foreign conspiracy over the Central Bank reserves he burns and sends investors running

The statement that he was protecting the Turkish economy from "attacks by foreign financial instruments that could disrupt the financial…

3 years ago

Christmas 2021: 10-year-old earthquake victim asked Santa Claus for a Cretan lyra

The letter of a 10-year-old boy from Crete, who asked Santa Claus to bring him a Cretan lyra so that…

3 years ago

Erdoğan on collapsing lira: "God willing, inflation will fall"

The Turkish lira, which lost another 6% of its value against the dollar, plunged again today after President Recep Tayyip…

3 years ago

Former Minister Suggests Printing "Turkish Dollars" to overcome currency crisis

Customised Turkish dollars... was proposed by former Health and Tourism Minister Bülent Akarcalı in the struggle to overcome the slump…

3 years ago

Economist Steve Hanke calls out Turkey's official inflation rate, estimates it at nearly 85%

Well respected economist Steve Hanke, professor at Johns Hopkins University and Director of the Troubled Currencies Project at Cato Institute,…

3 years ago

Greek Businesses Keep Close Eye on Turkey Interests Amidst Lira Meltdown

Greek companies with billions of euros of investments in Turkey are keeping a close eye on developments in the neighbouring…

3 years ago

Erdoğan is trying to divert public attention away from the Turkish lira and onto Greece

President Recep Tayyip Erdoğan is trying to divert public attention away from the serious livelihood problems that a large portion…

3 years ago

Bitcoin hits new all-time high in Turkey as fiat currency lira goes into free fall

Turkish Bitcoin holders avoid an accelerating currency collapse as the lira loses 15% against the U.S. dollar in a single…

3 years ago

Protests in Turkey as Lira collapses

Protesters took to the streets of Ankara and Istanbul after the Lira plummeted 15 per cent against the dollar.  Opposition…

3 years ago

Turkey expands its offshore drilling fleet while the lira falls

Turkey is attaining a new drilling ship to search for natural gas in the Mediterranean and the Black Sea, the…

3 years ago

Largest Pontian lyra in the world made by a 70-year-old man

For six months, every day, Nikos Kosmidis from Pentavryso in northern Greece had passion, stubbornness and perseverance to make the…

3 years ago

If the Turkish economy collapses, banks in Europe will "fall"

A report in German newspaper Die Welt by Holger Zschäpitz, titled "Erdogan has strong allies especially in Europe," wrote that…

4 years ago

Have Spanish and Italian banks guided their countries policies towards Turkey?

Italy and Spain were certainly countries that were indifferent to Turkey's aggression against Greece that began in November 2019 when…

4 years ago

Back to turning Christian churches into mosques, the gas find is not adequate for Erdoğan

Whenever you want to know how good or bad a situation in a country is, observe how serious investors are…

4 years ago

Turks think of selling their houses to buy gold as economy declines

As the Turkish economy goes into a steep decline with the Turkish lira reaching its lowest ever records to the…

4 years ago

Turkey's economy does not allow for war with Greece but we are prepared, say Greek Ministers

Greek Foreign Minister Nikos Dendias warned Turkey that Greece is "full prepared" to deal with any situation that Turkey might…

5 years ago