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Losses for Turkish lira after reports of petrodollar ‘injections’ from Saudi Arabia

Turkey's battered lira rallied against the greenback late on Wednesday before starting a new downward slide after the news that Saudi Arabia may deposit up to $20 billion in Turkish bonds and accounts. The pound was trading...

‘Jump’ for Turkish foreign exchange reserves after the influx of Russian funds

Turkey's official reserves rose by the most since February, after Russia's Rosatom injected cash into a Turkish subsidiary. Turkey's total gross reserves increased by about $3 billion through last week, with gold accounting for $1.6 billion of...

German press: ‘Explosion’ of the stock market in Turkey

An unexpected development from Turkey. Inflation may have soared to unimaginable heights, but at the same time the Istanbul Stock Exchange is experiencing an unprecedented boom, with the BIST-100 index up 31% since the beginning...

Fitch: Further downgrade to junk for the Turkish economy

Ratings agency Fitch Ratings further downgraded Turkey's public debt rating to "junk" level, stressing that the government's policies are contributing to "spiking inflation" and discouraging capital inflows. The rating agency lowered Turkey's rating to B from B+,...

Turkey: Pound rises, the stock market falls after the announcement of new measures

The Turkish pound is heading for a bigger rise this year, boosting gains on Friday after the government announced new measures to strengthen the currency and slow borrowing. The pound rose more than 5% to 16.0956 against...

Turkey’s banking system in a thread: Turkish banks are extremely vulnerable, says S&P

Turkey, along with Tunisia, is one of the countries most exposed to changing global liquidity conditions, the international credit rating agency S&P Global said in a report on emerging market banks. Banks in Turkey seem to have...