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The Turkish lira partially recovered in early 2021 with the government's increase in interest rates. However, the currency began to crash due to inflation and depreciation starting on 21 March 2021, after the sacking of Central Bank chief Naci Ağbal. The Turkish lira reached a then-all-time-low of ₺8.8 to the dollar on 4 June.
Until the 1930s and the Turkish alphabet reform, the Arabic script was used on Turkish coins and banknotes, with پاره for para, قروش for kuruş and ليرا for lira (تورك ليراسي for 'Turkish lira'). In European languages, the kuruş was known as the piastre, whilst the lira was known as the livre in French and the pound in ...
Lira is the name of several currency units. It is the current currency of Turkey and also the local name of the currencies of Lebanon and of Syria.It is also the name of several former currencies, including those of Italy, Malta and Israel.
The Turkish lira resumed its sharp fall on Wednesday on investor worries of a full-blown currency crisis and as a firm dollar made it more vulnerable to a squeeze, while emerging market stocks ...
The slump in Turkey's lira in the wake of the Turkish military advance into Syria has made it October's worst performing major currency, a move that looks even starker considering most emerging ...
Finance Minister Berat Albayrak assured international investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting its banks were healthy and signaling it could ride ...
Turkey is a founding member of the Organization of Economic Cooperation and Development, a member of the G20 and the NATO, and a candidate for the European Union. [19] Turkey's location at the crossroads of Europe, Asia, and the Middle East has made it a strategic hub for trade and investment, but also a vulnerable target for economic turmoil.
A big fall in Turkey's lira is hardly rare these days, but the currency's precipitous 20% plunge over the last week is ramping up risks of a balance of payments crisis unless authorities can ...