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    Turkish lira

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    • Thursday, 24 August, 2023
      Turkish economy
      Turkey raises interest rates as it steps up decisive shift in economic policy

      Central bank continues to unwind unorthodox position favoured by Erdoğan as it seeks to stem runaway inflation

      A shopper browses garments in Istanbul
    • Friday, 28 July, 2023
      LexTurkish economy
      Turkey: risk takers dip their toes into the equity market Premium content

      International investors are alert to signs that Erdoğan is finally addressing the country’s ills

      Turkish President Tayyip Erdogan
    • Monday, 3 July, 2023
      Turkish economy
      Turkey’s trade deficit falls 35% in sign of cooling economy

      Drop in imports last month reflects sharp devaluation in lira, which hit record low against dollar on Monday

      The port of Izmir in Turkey
    • Sunday, 25 June, 2023
      Turkish economy
      Turkey unwinds measures designed to increase lira holdings

      Central bank calls move ‘first step’ towards a more conventional monetary policy

      People wait to exchange money in Istanbul
    • Wednesday, 7 June, 2023
      Turkish lira slumps as new economic team starts ‘intentional devaluation’

      Currency undergoes biggest fall since late 2021 after finance minister’s pledge to restore ‘rational’ policies

      A cashier counts out Turkish lira banknotes on the counter of a foreign currency exchange store in Istanbul
    • Wednesday, 7 June, 2023
      Markets InsightLiam Peach
      Turkey needs a significant adjustment in the lira

      If the country’s shift towards economic orthodoxy is real, credible steps need to be taken quickly

      A vendor counts Turkish Lira banknotes inside a shop in Ankara
    • Tuesday, 6 June, 2023
      The FT ViewThe editorial board
      Turkey’s economic fate is still in the president’s hands

      After a promising rejig, Recep Tayyip Erdoğan must loosen his grip on economic policy

      Recep Tayyip Erdoğan walks with his cabinet in Ankara. Turkey desperately needs to shift away from the president’s economically illiterate agenda
    • Tuesday, 30 May, 2023
      Turkish economy
      Turkey’s lira weakens as economists warn of Erdoğan’s ‘unsustainable’ policies

      Re-elected president insists interest rates should stay low despite inflation running at over 40%

      Customers use cash machines in Ankara, Turkey
    • Friday, 26 May, 2023
      Market jitters push Turkish lira to fresh low ahead of presidential vote

      Currency falls to 20 to the dollar for the first time as polls predict Erdoğan victory at runoff election

      A customer hands over Turkish lira banknotes to pay for goods at a fruit and vegetable stall in Turkey
    • Tuesday, 16 May, 2023
      News in-depthTurkish economy
      Erdoğan’s ‘unsustainable’ policy risks lira sell-off, warn rating agencies

      Investors increasingly concerned over Turkish president’s insistence that low interest rates cure inflation

      Recep Tayyip Erdoğan
    • Monday, 15 May, 2023
      Turkish economy
      Turkish default protection costs soar as Erdoğan leads presidential vote

      Cost of credit default swaps records biggest rise in two years, while bonds sell off

      Recep Tayyip Erdoğan on Monday appeared on course to clinch Turkey’s presidential election
    • Monday, 2 January, 2023
      Turkish economy
      Turkish exports hit record high in 2022

      Cheap lira and closer ties with Russia boost trade, aiding Erdoğan’s re-election hopes

      Visitors walk past fishermen on the Galata Bridge in Istanbul
    • Thursday, 20 October, 2022
      Turkey
      Turkey cuts benchmark interest rate despite rampant inflation

      Central bank imposes bigger than expected reduction to 10.5% as Erdoğan battles to bring down borrowing costs

      Turkish president Recep Tayyip Erdoğan
    • Monday, 3 October, 2022
      Turkish economy
      Turkish inflation tops 83% as Erdoğan promises more rate cuts

      September’s price rises are the worst since president’s ruling party came to power 20 years ago

      A spice market in Istanbul
    • Thursday, 22 September, 2022
      Turkish economy
      Turkey’s central bank cuts rates despite rampant inflation

      Decision comes at a time when central banks around the world have been raising borrowing costs

      People walking in front of the the Turkish central bank in Ankara
    • Tuesday, 23 August, 2022
      News in-depthTurkish economy
      Turkey taps tourism revenues in effort to steady its fragile economy

      Businesses in Cappadocia region say every dollar and euro counts as country faces soaring energy import bill

      Hot air balloons flying above a rock plateau
    • Thursday, 18 August, 2022
      Turkish economy
      Turkey surprises with interest rate cut as inflation soars

      Currency slides after central bank loosens policy further and lowers rate to 13%

      A customer holds 200 Turkish lira banknotes
    • Friday, 24 June, 2022
      Turkish bank regulator limits lira loans for firms holding foreign exchange

      Under-pressure currency climbs in response but analysts say move is further step towards capital controls

      Turkish  lira note
    • Friday, 10 June, 2022
      Turkey promises new bond plan as lira weakness deepens

      Little reprieve for currency after government pledges to tackle ‘topics on our economic agenda’

      Turkish lira banknotes
    • Wednesday, 8 June, 2022
      Turkish economy
      Turkish lira’s slide accelerates as Erdoğan vows to continue slashing rates

      Currency has shed 22% this year and analysts warn fall is ‘likely to continue’ without rate rises

      Recep Tayyip Erdoğan speaking from a podium surrounded by Turkish flags
    • Thursday, 3 March, 2022
      Turkish economy
      Turkish inflation hits 20-year high of 54%

      Discontent grows about state of economy as lira tumbles

      Turkey’s president Recep Tayyip Erdogan
    • Monday, 21 February, 2022
      ExplainerTurkish economy
      In charts: can Erdogan’s gamble keep the Turkish lira steady?

      President is backing unorthodox measures to stabilise the currency but analysts are sceptical

      President Recep Tayyip Erdogan
    • Saturday, 12 February, 2022
      Turkish economy
      Fitch downgrades Turkish debt amid soaring inflation

      Rating agency says Erdogan’s flagship savings scheme will not ‘sustainably ease’ macroeconomic and financial stability risks

      A woman brandishes her utility bills during a protest in Istanbul against high energy prices
    • Wednesday, 9 February, 2022
      Turkish economy
      Turkey to target ‘under the mattress’ gold in effort to bolster the lira

      Ankara hopes to convert about $25bn of the hidden metal into the currency in latest scheme

      A gold shop in Istanbul, pictured in January 2022
    • Friday, 28 January, 2022
      Turkish lira steadies after tumbling 44% in tumultuous 2021

      Savings programme has helped slow selling in the currency, but analysts remain sceptical

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