Lira

This tag is associated with 6 posts

Turkey’s New Central Bank Governor Must Walk Political Minefield

By Iain MacGillivray Turkey’s former Central Bank Governor Erdem Başçi has bowed out from his position after five years in the job, leaving behind an interesting financial legacy amid growing political pressure from the ruling government. While Başçi managed to keep the Palace at bay and interference minimal, the appointment of his successor Murat Çetinkaya, a … Continue reading

Turkey’s Election Turmoil: A Plague Upon The House Of Erdoğan

By Conn M. Hallinan As Turkey gears up for one of the most important elections in its recent history, the country appears, as one analyst noted, to be coming apart at the “seams”: Longstanding tensions with the country’s Kurdish population have broken out into open war. A Kurdish-led left political party is under siege by rightwing … Continue reading

Turkey’s Monetary Policy Feud Stokes Financial Risk

By Etienne Lepers While Turkey – with its ceaselessly falling currency – is struggling with the same global forces as other emerging markets, an internal struggle between President Erdoğan, Central Bank Govenor Erdem  and deputy PM for the economy Ali Babacan is undermining Turkish economic vitality. Interest and currency rates have become subject to inter-departmental feuding generating significant financial uncertainty. Over the … Continue reading

More De-Dollarization: Turkey Looks To Settle Payments With Russia In Local Currencies

Turkey’s Ministry of Economy is considering a move to settle payments with Russia by using local currencies for major investment deals, Russia’s TASS news agency reports. “We would like payments in rubles and lira to be introduced at least for the larger investment projects in Russia and Turkey,” Turkey’s Deputy Economy Minister Adnan Yyldyrm, said during a joint … Continue reading

Can Turkey ETF Survive Political Woes?

By Zacks Equity Research iShares MSCI Turkey ETF (TUR) – the sole ETF focusing on Turkey – saw a terrible start to the year and is in fact the worst performing ETF in the emerging equities space this year. TUR has plunged roughly 17% this year as against flat returns by the broad emerging market funds … Continue reading

Moscow And Ankara To Trade In National Currencies – DenizBank

Russia and Turkey are working towards trade payments in national currencies, according to the president and CEO of Turkey’s DenizBank, Hakan Ates. “We are ready to do everything to facilitate the transition to payments in national currencies. Such a transition is possible but our central banks have to make this decision. We’re already working in … Continue reading

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