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Lira

17 December 2021, Turkey, Istanbul: People walk in front of a currency exchange shop in Istanbul. The Turkish central bank cut its benchmark interest rate to 14 per cent on Thursday, the fourth consecutive cut since September, leading the lira to fall to historic lows. Photo: Serkan Senturk/ZUMA Press Wire/dpa.

World

TURKEY CRISIS

Turkish currency crisis spirals as lira plummets to fresh record low

The Nomad Today/dpa 12/17/21

Local media is full of images of long lines for cheap bread , quotas on certain goods in supermarkets and panic buying of essential items

FILED - An employee piles up stacks of Turkish lira banknotes inside a bank at the northern Syrian town of Sarmada in 2020. Turkey's currency hit yet another record low of over 14 against the dollar before recouping some losses on Wednesday after a central bank move to sell reserves. Photo: Anas Alkharboutli/dpa.

World

TURKEY

Erdogan replaces finance minister with deputy amid lira meltdown

The Nomad Today/dpa 12/2/21

Since the beginning of this year, the lira has plunged to record lows against the US dollar, losing 47 per cent of its value