Turkey Economy

U.S. dollar rebounded Wednesday while Turkish lira slumped

U.S. Dollar Rebounded Wednesday While Turkish Lira Slumped

The U.S. dollar was subdued on Wednesday. It climbed up from near a five-month low against other major currencies, as investors sentiment turned optimistic due to a bolstering U.S. manufacturing. Analysts think economic recovery may push the Federal Reserve to normalize its policy earlier than expected. The dollar index traded just below 90 against six …

U.S. Dollar Rebounded Wednesday While Turkish Lira Slumped Read More »

A second bitcoin exchange collapses in Turkey

A Second Bitcoin Exchange Collapses in Turkey

According to the latest news, a second cryptocurrency exchange has collapsed in Turkey amid a crackdown on the industry. Vebitcoin added information on its website saying that it has ceased all activities after facing financial strain. The platform also promised it would update clients on the situation as soon as possible. In the previous week, …

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Turkish crypto exchange's CEO goes missing, stealing $2Bn of funds

Turkish Crypto Exchange’s CEO Goes Missing, Stealing $2 Bn of Funds

A Turkish crypto exchange is now offline after the disappearance of its CEO. He stole the funds of thousands of investors and disappeared. According to the translated statement on its website, a crypto firm Thodex, based in Turkey, said that its platform is temporarily closed. It is because of preventing an abnormal fluctuation in the …

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turkish lira

Turkish Lira Remains Low. What About the Dollar and Euro?

The Turkish Lira plunged as much as 15% after President Recep Tayyip Erdogan fired Naci Agbal, the country’s central bank governor, last Saturday. The U.S. dollar continued rising on Thursday after skyrocketing to a four-month high against the Euro during the Asian session. Traders focused on various recovery outlooks for the United States and Europe. …

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The dollar bounced back

U.S. Dollar Fell While Turkish Lira Steadied on Tuesday

The U.S. dollar remained below recent highs on Tuesday. Traders were anticipating U.S. policymakers’ speeches to gauge whether rising yields would decline. Meanwhile, the New Zealand dollar tumbled down on Tuesday. The Turkish lira also stabilized after plunging by 7.5% on Monday. President Tayyip Erdogan fired a hawkish central bank chief, causing the currency’s collapse. The dollar …

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Turkish

Turkish Markets in Confusion over Central Bank Overhaul

Turkish stocks collapsed again, with the lira taking a brief plunge on Tuesday. Seeking to predict whether the central bank was on the verge of cutting interest rates were investors, banks and local depositors. This came after the country’s central bank leadership overhaul during the weekend. On Monday, the Turkish lira dived as much as …

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turkish lira

Turkish Lira Plunged to A Record Low After Erdogan’s Move

The Turkish lira plummeted down to a record low against the U.S. dollar over the weekend. President Tayyip Erdogan replaced the hawkish central bank governor with a critic of high interest rates, stunning investors, and causing a great uproar on markets. The U.S. dollar soared due to worries about events in Turkey causing disruptions in other …

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