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Turkey's central bank said it was hiking its main interest rate by 625 basis points to 24%

Turkey central bank stuns markets with huge rate hike

Turkey's central bank today surprised markets with a bigger than expected rate hike to battle soaring inflation and boost the lira, prompting the embattled currency to surge in value.

Business • 13 Sep 18

The currency gained some support from the announcement late yesterday of a Qatari pledge to invest $15 billion in Turkey

Turkish lira firms before minister's presentation

The Turkish lira has strengthened more than 3% today, ahead of a presentation by Finance Minister Berat Albayrak to investors, shrugging off US comments ruling out the removal of steel tariffs on Turkey even if it frees a US pastor.

Business • 16 Aug 18

The dollar's strength - overnight it also hit a 13-month high - has been bolstered by a fall for the euro, dogged by concerns over exposure of European banks to Turkey

Dollar hits another 13-month peak over Turkey concerns

The dollar has hit another 13-month high against a basket of major currencies today, as safe-haven demand over fears of fallout from the Turkish lira's recent drop boosts the US currency.

Business • 15 Aug 18

The lira, which closed at 6.9 per dollar yesterday, has weakened 45% this year

Turkish lira edges up from record low

The Turkish has lira pulled back from yesterday's record low this morning, helped by the country's central bank's liquidity measures and news of a planned conference call in which the finance minister will seek to reassure investors.

Business • 14 Aug 18

The lira has tumbled on worries over Turkish President Tayyip Erdogan's increasing control over the economy and deteriorating relations with the United States

Turkish currency crisis drives world markets lower

World markets have shuddered today, as Turkey's worsening currency crisis persuades investors to dump equities and emerging markets and flee to safer assets such as government bonds and the dollar.

Business • 13 Aug 18

The lira has gone into a tailspin in the continuing row

Erdogan accuses US of trying to stab Turkey in the back

Turkish President Recep Tayyip Erdogan accused the United States of seeking to stab Turkey "in the back" over a diplomatic row sparked by the detention of a US pastor that has sent the lira into a tailspin.

Turkey • 13 Aug 18