New Turkish lira
Turkey's central bank raises interest rate to 17%

Dec. 24, 2020 07:02 AM EST
ISTANBUL (AP) — Turkey’s central bank raised the benchmark interest rate on Thursday for a second time in a row under its new chief. The...

FILE - In this Friday, Aug. 10, 2018 file photo, Berat Albayrak, Turkey's Treasury and Finance Minister, wipes his forehead as he talks during a conference to ease investor concerns about Turkey's economic policy. Albayrak, announced his resignation on social media Sunday, Nov. 8, 2020. He said on Instagram that he was stepping down from his post for health reasons and would spend more time with his family. Albayrak, 42, was appointed minister of finance and treasury in July 2018, having previously been energy minister for nearly three years. (AP Photo/Mucahid Yapici, File)
Erdogan accepts Turkish finance minister's resignation

Nov. 09, 2020 03:25 PM EST

People stand outside an exchange office in landmark Taksim Square, in Istanbul, Monday, Oct. 26, 2020. The Turkish currency continued its slide to reach an all time low on Monday, after President Recep Tayyip Erdogan challenged the United States to slap sanctions over his government's decision to test its Russian-made air defense system. (AP Photo)
Turkish lira drops to record low over US sanction threat

Oct. 26, 2020 07:20 AM EDT

Turkey hikes rates to support currency, fight inflation

Sep. 24, 2020 08:48 AM EDT
ANKARA, Turkey (AP) — Turkey’s Central Bank raised its benchmark interest rate by 2 percentage points on Thursday, its first hike in two years to fight...

FILE-In this Thursday, Aug. 16, 2018 file photo, a man walks away after changing currency at a currency exchange shop in Istanbul. Turkey's currency dropped to an all-time low against the dollar on Thursday Aug. 6, 2020, as the global recession created by the coronavirus pandemic brings to the fore weaknesses in the country's economy. (AP Photo/Lefteris Pitarakis, File)
Turkish currency hits all-time law amid market jitters

Aug. 06, 2020 08:50 AM EDT

An old sign announcing they are hiring hangs in the window of a closed store along Broadway, Thursday, May 7, 2020, in the Soho neighborhood of Manhattan in New York. Nearly 3.2 million laid-off workers applied for unemployment benefits last week as the business shutdowns caused by the coronavirus outbreak deepened the worst U.S. economic catastrophe in decades. (AP Photo/Mary Altaffer)
Airlines crushed; IRS wants checks sent to the dead returned

The Associated Press May. 07, 2020 10:50 AM EDT

Turkey's lira hits record low against dollar amid pandemic

May. 07, 2020 08:29 AM EDT
ANKARA, Turkey (AP) — Turkey’s currency briefly dropped to an all-time low against the dollar on Thursday as the country struggles with the economic impact of...