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A sharply fluctuating Turkish lira flirted with record lows on Wednesday as the central bank said it had intervened to prop up the currency, while President Tayyip Erdogan reaffirmed his determination to stick with steep rate cuts. ....
Turkish President Tayyip Erdogan said on Wednesday he will never support high interest rates, adding that he understood public concerns over the volatility in exchange rates, after the lira slumped as much as 47% against the dollar this year. ....
President Tayyip Erdogan said on Wednesday Turks should act with reason and avoid panic after the lira slumped to record lows, adding that Turkey's current 20% annual inflation could be solved rapidly. ....
Turkey's lira plunged as low as 14 to the U.S. dollar and hit new lows against the euro on Tuesday, capping a historical month of selling after President Tayyip Erdogan again endorsed aggressive interest rate cuts despite widespread criticism and soaring inflation. ....
President Tayyip Erdogan appointed Nureddin Nebati as Turkey's minister of treasury and finance early on Thursday, accepting the resignation of Lutfi Elvan, the last top official seen to adhere to orthodox policy in a government gripped by a currency meltdown. ....