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...Foreign fund managers have bought about $2bn in lira-denominated Turkish government bonds since the start of June, central bank data shows....
...Turkey, an OECD country, registered annual food inflation of 70.4 per cent in March as the lira has continued to weaken against the dollar....
...Turkey’s lira has fallen slightly against the dollar since Erkan’s resignation, while the benchmark Bist 100 stock index has advanced 2 per cent....
...Gross billings in North America increased 1 per cent but international billings declined 4 per cent, which Kreiz mostly attributed to the weakening of the Turkish lira....
...Turkey’s lira hovered near record lows on Monday as a series of sharp interest rate rises starting in June failed to relieve pressure on the currency....
...The lira has fallen 8 per cent against the dollar since the start of 2024 notwithstanding Thursday’s gains....
...Turkish consumer prices rose sharply in January as a big increase in the minimum wage and a further depreciation in the lira added to cost pressures....
...The lira was little changed at TL30.5 against the US dollar. What prompted Erkan’s exit?...
...Wednesday’s report highlights how a 20 per cent tumble in the lira against the dollar last month has pushed up the cost of imports....
...Turkey’s vast tourism sector posted record revenues last year as a weak lira and all-inclusive holidays lured deal-hungry travellers....
...In the three months before Erkan’s first big interest rate rise in late August, the lira had already dropped 24 per cent versus the dollar....
...“On the cost side they are benefiting from the cheaper lira....
...Investors say the 35 per cent fall in the lira against the dollar this year has also helped to make Turkish assets look more appealing....
...Turkey’s lira tumbled on Wednesday by the most since late 2021 as analysts expect president Recep Tayyip Erdoğan’s new economic team to loosen the shackles that had slowed its fall in recent months....
...The lira has not ended a day with such a big fall since December 2021, Refinitiv data shows. Read more about Turkey’s currency slump here...
...Turkey’s lira has fallen to 20 to the US dollar for the first time, in the latest sign of the mounting pressure on the country’s economy ahead of Sunday’s runoff election....
...For more on the lira, click here....
...Turkey needs a significant adjustment in the lira, both in nominal and real terms....
...Under the government’s previous “lira-isation” strategy, banking regulations were changed frequently in an attempt to keep local businesses and consumers, who have seen the lira tumble 65 per cent against...
...The hit to public finances could increase rapidly if the lira falls faster in coming weeks....
...The pace of the lira’s depreciation has been rapid: Goldman Sachs said at the weekend that it expected the lira to fall to 23 against the dollar in the next three months, a forecast that came to fruition...
...The resort charges in the single currency to protect itself from the lira’s fluctuations....
...5) Secured overnight financing rate’s underlying transaction volumes 6) Turkish lira 7) Macy’s stock price 8) ANGL price: That’s the price of the Van Eck Fallen Angels ETF. It’s seasonal, kind of?...
...That is in part due to Erdoğan’s pre-election giveaways ahead of last May’s vote, including raising the minimum wage, and the weakness of the lira....
...The weaker lira should make Turkish exports more competitive, with the trade deficit likely to continue narrowing in the coming months, Peach said....
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