The Turkish lira weakened more than 1 per cent against the dollar early on Tuesday after the United States halted delivery of equipment related to the F-35 fighter aircraft to Turkey.
The Sharjah Airport on Thursday received Turkish Airlines’ inaugural flight from Istanbul. Starting in April, the airline will operate a daily flight to Sharjah from Istanbul’s new airport. The aircraft was welcomed with a traditional water salute, and a reception was held for the airline’s officials in the presence of Ali Salim Al Midfa, Chairman of Sharjah Airport Authority,
The Turkish lira eased to 5.62 against the dollar early on Wednesday, remaining under pressure after weakening a day earlier as the United States halted delivery of equipment related to a Turkish order of F-35 fighter planes.
Turkey’s annual inflation soared to its highest in 19 years, data showed on Monday, laying bare the depths of a currency crisis engineered by policies that the country’s president has espoused.
Turkey’s lira briefly fell 15 per cent to near its all-time low on Monday after President Tayyip Erdogan’s shock weekend ousting of a hawkish Central Bank governor sparked fears of a reversal of recent rate hikes.
By deploying Turkish troops in the Arab world, the most dangerous man in this region, Turkey’s President Recep Tayyip Erdogan is following the bad example of “the most dangerous man in the world,” Donald Trump.
Turkey’s lira extended recent losses, weakening more than 1 per cent against the dollar on Monday, while stocks and dollar-denominated bonds rallied after the appointment
Turkey’s lira plunged 7 per cent to a record low on Wednesday in its biggest daily selloff since a historic 2021 crash, a move traders said is a “strong signal” that Ankara is moving away from state controls toward a freely traded currency. The lira has come under increasing pressure since President Tayyip Erdogan was re-elected on May
Turkish state banks sold more than $1 billion, sources said, helping the lira to firm more than 2 per cent at one stage and stem declines triggered by a decision this week to re-run Istanbul’s mayoral election. The lira traded at 6.0975 at 1315 GMT, up from Thursday’s close of 6.1935. The currency rose to 6.0515 against the US dollar in overnight Asia trade.
The Turkish lira weakened on Tuesday after the central bank lowered the swap market lira interest rate and held a repo auction for the first time in nearly two weeks, reversing a policy tightening step it had taken to support the currency. A currency crisis last year wiped nearly 30%