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Turkish lira weakens against dollar, minister warns on sanctions

The Turkish lira weakened on Tuesday as investors weighed up Turkey’s efforts to manage its rift with the United States after Finance Minister Berat Albayrak warned that US trade sanctions against Ankara could destabilise the Middle East. The row with Washington over an American evangelical Christian pastor detained in Turkey on terrorism charges has accelerated…

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August 28, 2018


Under-pressure lira trades steady

The under-pressure lira held steady against the dollar on Wednesday after U.S. President Donald Trump’s national security adviser said Turkey had made a “big mistake” in not freeing a U.S. pastor held on terrorism charges. The lira has lost 37 percent of its value this year in a crisis triggered by concerns over President Tayyip…

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August 22, 2018


Turkey’s lira falls 3 per cent, Trump won’t take pastor’s detention ‘sitting down’

Turkey’s battered lira weakened 3 percent on Friday after a Turkish court rejected an American pastor’s appeal for release, drawing a stiff rebuke from US President Donald Trump, who said the United States would not take the detention “sitting down”. The case of Andrew Brunson, an evangelical Christian missionary from North Carolina who has lived…

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August 18, 2018


Turkey’s lira weakens more than 6% on threat of more US sanctions

Turkey’s battered lira weakened more than 6 percent against the dollar on Friday, after a U.S. warning that Ankara should expect more economic sanctions unless it hands over detained American evangelical pastor Andrew Brunson. It has lost nearly 40 percent of its value against the dollar this year, hit by both the diplomatic rift and…

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August 17, 2018


Erdogan’s finance czar insists crisis-hit Turkey to emerge stronger

Turkey sought Thursday to reassure investors rattled by the crash of the Turkish lira, insisting the country would emerge stronger and has no need of an IMF bailout. Finance Minister Berat Albayrak, the son-in-law of President Recep Tayyip Erdogan, addressed hundreds of foreign investors from the United States to Europe and Asia via a conference…

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August 16, 2018


Turkey to boycott US electronics after lira reaches record low

Turkish President Recep Tayyip Erdogan said on Tuesday that Turkey will boycott electronic products from the United States, retaliating in a dispute with Washington that helped drive the lira to record lows. The lira has lost more than 40% this year and crashed to an all-time low of 7.24 to the dollar early on Monday,…

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August 14, 2018


Turkey attempts to calm markets as lira hit again

Turkey’s central bank on Monday sought to calm markets rattled by the precipitous plunge of the Turkish lira as President Recep Tayyip Erdogan chastised the US for seeking to stab Ankara “in the back.” A dispute between NATO allies Turkey and the United States — which reached new intensity over the detention of an American…

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August 13, 2018


Turkey lira pares dollar gains after Erdogan victory

Turkey’s embattled lira on Monday pared gains against the US dollar after a surge following President Recep Tayyip Erdogan’s decisive election victory, as analysts warned the economy still faced troubled waters. The lira was trading at 4.66 to the dollar, gaining only 0.1 percent in value on the day. It was trading at 5.45 to…

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June 25, 2018


China shares hit 21-month high; Turkish lira takes a dive

SYDNEY: Chinese shares climbed on Monday after a week-long break as a disappointing survey on the country’s service sector did little to dent optimism on global growth, while political uncertainty caused turbulence for the Turkish and British currencies, reported Reuters. Liquidity was lacking with Japan and South Korea on holiday and a partial holiday in…

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October 9, 2017


Turkey’s Erdogan equates lira fall to ‘terrorism’

President Recep Tayyip Erdogan on Thursday blamed a conspiracy aimed at weakening Turkey for the recent plunge in value of the lira, saying those who worked to pressure the currency were no different from a “terrorist”. The lira has plunged to record lows in recent weeks against the dollar, losing almost 10 percent in the…

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January 12, 2017


Erdogan urges Turks to convert foreign currency to lira

Ankara, Turkey: President Recep Tayyip Erdogan on Friday urged Turks to convert their foreign money into gold and lira to stimulate the country’s economy as Turkey’s currency continued its slide against the dollar. “For those who have foreign currencies under the pillow, come change this to gold, come change this to TL (Turkish lira). Let…

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December 3, 2016


Turkish currency hits new historic low of 3 lira to dollar

ISTANBUL: Turkey’s embattled lira on Thursday hit a new historic low in value against the US dollar, breaking the ceiling of three lira to the dollar for the first time.

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August 20, 2015


Turkish lira gains after AK Party election victory

ISTANBUL: The Turkish lira strengthened modestly on Monday after Prime Minister Tayyip Erdogan's ruling AK Party won a clear victory in Sunday's parliamentary election. By 0416 GMT the currency was quoted at 1.5702/1.5740 against the dollar, compared with Friday's close of 1.5770. The AK Party won 50 percent of the vote to give Erdogan a…

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June 13, 2011