Turkey heads for a currency crisis as the lira plummets
The Turkish lira has lost 40% of its value so far this year after the central bank bowed to pressure to cut interest rates.
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The Turkish lira has lost 40% of its value so far this year after the central bank bowed to pressure to cut interest rates.
ISTANBUL (Reuters) - Turkey's lira tumbled anew on Wednesday towards a record low, gripped by worries over soaring inflation and other economic fallou...
2/2 © Reuters. FILE PHOTO: A currency exchange holds Turkish lira banknotes in Ankara, Turkey, on September 27, 2021. REUTERS / Cagla Gurdogan / Photo
ISTANBUL -Turkey's state banks are expected to cut borrowing costs on loans by around 200 basis points on Monday, according to three people with knowledge of the plan, following last week's...
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