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Tourists return to Turkey as cheap lira offers luxury living for a fraction of the price
"We feel super rich," one visiting couple said.
What does 20% inflation feel like in Turkey?
A package of eggs recently jumped 60% in a week at one grocery store. Many economists fault the Erdoğan government's policies.
Road to recovery may be long for some emerging markets
The value of emerging market currencies keeps tumbling. Argentina’s peso has lost half its value against the dollar this year. Same with the lira in Turkey. Investors are souring on Brazil. India. South Africa. Mexico. Indonesia. Some of these countries have been through currency and financial crises before. And each case is different. But sometimes […]
Why the Turkish lira’s downfall scares investors
The economic crisis in Turkey deepened this morning, despite moves by central bank officials in Ankara to calm the flight from the currency. The Turkish lira has lost 39 percent of its value since the beginning of the month. And there’s a reason why the lira’s downfall makes investors nervous — analysts are looking to see […]
Turkey shaken by financial fears, Trump rattles it further
Trump tweeted that he had authorized the doubling of steel and aluminum tariffs “with respect to Turkey.”
Turkey raises interest rates to stem currency crisis
The Turkish lira has been on a wild slide recently. It dropped 5 percent against the dollar Wednesday, its biggest loss in nearly a decade, before the country’s Central Bank stepped in with an emergency meeting that reversed some of those losses. The bank finally did something it’d been resisting. Something its president had been […]