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Tag: Turkish currency

Turkish inflation soars to 74%, highest since 1998

Istanbul (The Times Groupe)- Annual inflation rate in Turkey has hit a 24-year high of 73.5% in May, fueled by the war in Ukraine, rising energy prices, and a tumbling lira -- though the figure is lower than economists had predicted.

Turkish lira weakens for 8th day beyond 15.6 vs dollar

Ankara (The Times Groupe)- The Turkish lira slid 1% to beyond 15.65 against the US dollar on Monday, slipping towards the record-low levels it reached in December following a series of interest rate cuts, while a key measure of risk spiked to a record high.

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