Monday, 8th August 2022
<To guardian.ng
Search

Turkish Lira tumbles to record low in Sixth day of declines

By Bloomberg
06 August 2018   |   1:41 pm
The Turkish lira continued its fall against the dollar for a sixth day, hitting a record low as a showdown continues with the U.S. over a detained American pastor.

Related

9 Oct 2021
The standoff over migrants entering the EU between Minsk and Warsaw has hit local Polish businesses near the border, many reliant on tourism. With the winter coming and no end in sight to the crisis, DW visited the area.
15 Oct 2021
Turkish President Recep Tayyip Erdogan had fired three central bankers via decree. Turkey's currency has lost a fifth of its value against the US dollar this year.
27 Oct 2021
Report: Africa to see less funding for fossil fuels - Nigeria introduces eNaira digital currency - Solar powered vehicles made in Germany?
27 Oct 2021
Benefitting from soaring demand for online ads, Google's parent company Alphabet reported nearly $19 billion in profits between July and September, up 68 percent from the same period last year. Microsoft's earnings also beat expectations, while French consumers are gearing up for some price hikes at the bakery.
8 Nov 2021
Bar owner Mohamed Lamin Mansaray told everyone to run away from his bar just before a fuel tanker exploded following a traffic collision, killing at least 99 people and injuring hundreds more on Friday (November 5) in Sierra Leone. The explosion destroyed Mansaray's business killing a staff member and destroying his home, which he had built for himself and his 10 family members. "We are getting into festive season....I have just purchased a brand new musical set, lots of drinks from the Sierra Leone brewery and chairs that worth about Le 270,000,000 (24,700 USD). Property that I have lost and one of my staff died”, said Mansaray while pointing at what is left of his business.
18 Nov 2021
Turkey's lira sunk to a new low against the US dollar on Tuesday. As the lira continues to tank, the Turkish working class suffer the brunt of the inflation.
23 Nov 2021
The Turkish lira hit new lows against the US dollar and euro. Analysts place the blame on the low interest rates and the cheap money policies preferred by President Recep Tayyip Erdogan.
26 Nov 2021
After hitting historic lows on Tuesday, Turkey's currency has recovered slightly. The lira has lost 40% of its value against the US dollar since the start of the year, amid a series of controversial interest rate cuts and double-digit inflation.
3 Dec 2021
The Turkish lira is in free fall — with devastating consequences for people in the Syrian region of Idlib. 46-year-old Khadija needs two jobs to provide for her family.
13 Dec 2021
Turkish President Recep Tayyip Erdogan has defended his "economic vision", even as the lira continues to hover near record lows. The plunge in the value of the currency has left many families struggling to make ends meet. Also in the show: the EU outlines a new trade strategy to give it more leverage against countries that try to coerce the bloc for economic or political gain.
21 Dec 2021
Protesters have taken to the streets of Ankara and other Turkish cities after the country's currency - the lira - tumbled 15 percent against the US dollar. Many are calling for the government to resign, blaming them for the economic situation.
25 Dec 2021
2021 brought big changes to households and businesses around the world. In the last show of the season, Stephen Carroll and Kate Moody take a look at some of the biggest business and economic stories of the year and how they might evolve in 2022.