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Turkish Lira Down 7% in Biggest Selloff Since 2021 Crisis

Türkiye’s lira plunged 7% to a record low on Wednesday in its biggest daily selloff since a historic 2021 crash, as the newly-elected government appeared to loosen stabilising measures in its pivot to more orthodox policies. The lira has come under pressure since President Recep Tayyip Erdogan was re-elected on May 28. It stood at 22.98 against the dollar at 0735 GMT. Earlier it touched a record low of 23.16, bringing its losses this year to more than 19%.
United States Paul Mcnamara Tayyip Erdogan Sahap Kavcioglu Mehmet Simsek Hafize Gaye Erkan
Source: aawsat.com

Turkish lira down 7 per cent in biggest selloff since 2021 crisis

Turkey’s lira plunged 7 per cent to a record low on Wednesday in its biggest daily selloff since a historic 2021 crash, a move traders said is a “strong signal” that Ankara is moving away from state controls toward a freely traded currency. The lira has come under increasing pressure since President Tayyip Erdogan was re-elected on May
United States Tayyip Erdogan Sahap Kavcioglu Hafize Gaye Erkan Mehmet Simsek Turkish Lira

Saudi Arabia, Latvia Sign MoU to Promote Trade, Joint Investment

The Federation of Saudi Chambers (FSC) and the Investment and Development Agency of Latvia (LIAA) have signed a memorandum of understanding (MoU) to promote trade and investment between the Kingdom of Saudi Arabia and the Republic of Latvia. The signing ceremonies were held during the Saudi-Latvian Business Forum, which was organized by the FSC.
United States Paul Mcnamara Tayyip Erdogan Sahap Kavcioglu Mehmet Simsek Hafize Gaye Erkan
Source: aawsat.com

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