Turkey celebrated a significant milestone as Fitch upgrades its credit rating, lauding the country's shift towards orthodox economic policies on Saturday. Fitch's decision to elevate Turkey's credit rating to B+ from B, with a positive outlook, reflects growing confidence in the effectiveness of the government's economic reforms initiated since June 2023.

Turkey's economic overhaul earns Fitch upgrade amid policy shift

Investors have increased their bets against the Lira post the local elections in March. However, a Bloomberg report showed that Turkiye's Minister of Treasury and Finance, Mehmet Simsek, dismissed the post-election Lira doom scenario.

Turkiye dismisses post-election Lira doom?

Turkiye’s central bank increased its benchmark interest rate by a higher-than-anticipated 750 basis points to 25 per cent on Thursday, igniting a rare lira rally and indicating a renewed commitment to combating rising inflation as part of a broader policy U-turn.

Turkish lira shoots up after a 25 per cent rate hike

As the Lira was approaching a decade of continuous losses, Turkish policymakers hit on an idea that promised a quick fix, and it helped stave off another currency crisis. A Bloomberg report showed that nearly two years later, a government-backed savings programme that safeguards lira deposits from hard currency devaluation is too massive to dismantle.

Lira lifeline became $124 billion problem that haunts Turkey

Turkey's official inflation rates continue to drop after they peaked at 85% late last year. Figures reported in June were lower than projections. Economists emphasise hope for the country as Erdogan takes a conventional policy route. Will the trend continue or will the president return to his old ways? Ghadi Francis gets you the story.

Lira steadily deteriorates, as Turkish inflation rates cool | What comes next?

Here we bring you a quick round-up of all latest news, top headlines and international breakings from all across the globe, stay tuned with Gravitas for more!

Gravitas Global Headlines: Turkish Lira plunged to a record-low 7% in the biggest daily selloff

Turkish economy is witnessing a downturn as the country's currency, the lira, plunged to a record low of over 20 against the US dollar on Friday (May 26). The lira touched 20.

Turkish lira witnesses record low ahead of presidential election runoff

Just days before the May 28th presidential runoffs, the Turkish Lira hit a new low of 20 to the US dollar, declining 6.4 percent so far this year. In addition, sovereign bonds and stocks have both declined.

Turkish currency plunges ahead of Presidential elections run-off

Turkey's annual inflation has jumped to nearly 70% in April, fuelled by the Russia-Ukraine conflict and rising commodity prices after a Lira crash late last year.

Turkey's inflation surges to 20-year high

President Erdogan sacks chief statistician as Turkey's economic crisis worsens. Erdogan has been receiving flak for currency Lira's free fall.

Erdogan sacks chief statistician as Turkey's economic crisis worsens

Turkey's lira weakened by as much as 2% on Tuesday, extending sharp losses seen a day earlier and eroding massive gains made last week, as worries about the country's monetary policy weighed on sentiment. Lira surged more than 50 per cent last week.

Turkey's lira weakened by as much as 2%

Turkish currency remains volatile. Turkey's Finance Ministry said on Tuesday a new protection scheme meant to boost confidence in the currency will be applied to lira deposits with maturities of three to 12 months.

Turkey introduces new measures to guard local currency

After witnessing a rapid fall, Turkish currency Lira bounces back owing to President Recep Tayyip Erdogan's economic measures.

After a series of economic measures by Turkish President Erdogan, currency Lira rallies

Turkish currency Lira plunges to a record low as Turkey cuts interest rate again for the fourth successive month.

Turkey cuts interest rate again for fourth successive month as currency Lira plunges to a record low

Firing the latest salvo in President Recep Tayyip Erdogan's economic war of independence, the central bank has cut interest rates once again, leading to a sharp fall in the Turkish currency Lira's value against the dollar.

Turkish lira plunges to new record low after Erdogan's latest rate cut

Turkey's Central bank rushes to the rescue of the economy as the currency Lira plummets to a new low. Lira crashed as much as 7%.

Turkish currency Lira plummets to a new low

Inflation has increased to the highest level in three years in Turkey. Turkey's currency Lira is also on the downslide.

Inflation increases to its highest level in Turkey

Lines outside bread stores and gas stations; farmers defaulting on loans; impromptu street demonstrations. The signs of economic distress in Turkey are all too clear as the lira continues a dizzying slide.

‘Our money has no value’: Frustration rises in Turkey at lira crisis

Hitting new lows against the foreign currencies, Turkey's Lira has fallen as low as 14 to US dollar, this after President Erdogan doubles down on rates policy

Turkey's Lira hits new lows against foreign currencies

Inflation is now at 20% in Turkey, as the Lira which is the official currency of Turkey has hit a record low of 13.44 against the US Dollar. Turkish currency crashed by 8% in a single day but recovered by a few cents later.

Turkey: Lira crashed to a new low of 13.44 against the dollar

Apple has halted all sales in Turkey as the Lira continues to sink further. How did Turkey, which was once the fastest-growing G20 economy come to such a pass? Palki Sharma tells you why Recep Tayyip Erdogan's 'economic experiments' are to blame.

Gravitas: Turkish Lira sinks, investors lose confidence | How has Erdogan's experiment backfired?

The Turkish Lira sank to an all-time low this week. People of Turkey are suffering due to high inflation. President Erdogan's approval ratings have dropped. The opposition is calling for an early election. Palki Sharma tells you how Erdogan's empire is crumbling.

Gravitas: Recep Tayyip Erdogan's empire is crumbling

Turkish Lira has continued to slide and reach a record-low in three years against the dollar; the lira fell as much as 6 per cent to 11.3118 against the dollar, the biggest decline in eight months.

Turkey currency hits record low level, Lira has lost a third of its value

The Turkish Lira weakened 1.6% to a record low against the dollar in early Asian trade after President Tayyip Erdogan said he had ordered the expulsion of the ambassadors of the United States and nine other western countries.

Turkish Lira weakens 1.6% to a record low

lira

Lira, News on Lira, stories on Lira, articles on Lira, Lira stories at Wion, Lira news, Lira latest news