(Bloomberg) Turkey’s inflation jumped to a fresh 20-year high in March, driven by a weak lira and a surge in energy and food prices.
Consumer prices rose an annual 61.1% through last month, up from 54.4% in February.
Turkish Lira Rises Before Meeting Between Biden and Erdogan
Jun 15 2021, 10:30 AM
June 14 2021, 5:28 PM
June 15 2021, 10:30 AM
(Bloomberg) Turkeyâs lira rallied the most in emerging markets as investors watched a meeting of President Recep Tayyip Erdogan with his U.S. counterpart Joe Biden for signs whether the two countries can heal their rifts.
(Bloomberg) Turkeyâs lira rallied the most in emerging markets as investors watched a meeting of President Recep Tayyip Erdogan with his U.S. counterpart Joe Biden for signs whether the two countries can heal their rifts.
The currency rose for a seventh day, the longest streak of gains since February 5. The advance comes on the heels of a swap deal with China that will enable Turkey to reduce its use of dollars in international trade.
Lira Plunge Squeezes Traders as Swap Rates Surge to 1,400% msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
A Turkey country-specific exchange traded fund was took charge on Thursday after the Turkish Central Bank bolstered credibility among investors by executing another interest rate hike to combat the runaway inflation.