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Apr 19, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

lira vs dollar

Lira plunges again
Business & Finance

Lira plunges again

ISTANBUL: Turkey’s troubled lira nosedived after President Recep Tayyip Erdogan cited Islamic teachings to justify...
Published 21 Dec, 2021 04:14am
Turkish lira hits new low
Markets

Turkish lira hits new low

ISTANBUL: Turkey’s currency sank to all-time lows on Wednesday after President Tayyip Erdogan said he had urged ...
Published 03 Jun, 2021 04:13am
Dollar dominates as hedge funds cut shorts on Treasury yield rise
Markets

Dollar dominates as hedge funds cut shorts on Treasury yield rise

  • Turkey's shock weekend decision to replace its hawkish central bank governor also supported the dollar's safe-haven appeal.
  • Markets have been slow to catch on to the rising dollar theme in recent weeks as investors had bet that a global economic recovery would prompt buying of riskier currencies.
Updated 22 Mar, 2021 06:29pm
Turkish cenbank hikes rates more than expected to 19pc
Business & Finance

Turkish cenbank hikes rates more than expected to 19pc

  • The key one-week repo rate is the highest of any big economy and it is back to levels last touched in mid-2019. It had stood at 17% since December after aggressive monetary tightening last year.
  • The central bank has now tightened policy by 875 basis points since Erdogan appointed Agbal in November, when the lira touched a record low. It had rallied 20% after the appointment.
Published 18 Mar, 2021 06:12pm
Turkish net FX reserves climb to $13.93bn
Business & Finance

Turkish net FX reserves climb to $13.93bn

  • The exchange rate used by Reuters on Thursday was 7.1924 compared to 6.9527 the previous week.
  • The reserves plunged last year as state banks sold off an estimated total of $130 billion to stabilise the ailing lira, which still lost 20% of its value in 2020.
Published 04 Mar, 2021 05:59pm
Turkish lira weakens 1.5pc against dollar
Markets

Turkish lira weakens 1.5pc against dollar

  • The lira weakened as far as 7.4540 against the US currency from a close of 7.3425 on Tuesday and stood at 7.4320 at 1400 GMT. After strong gains until mid-February, the lira has retreated back to end-2020 levels.
Published 03 Mar, 2021 07:44pm