Since June, the lira
has depreciated 13 percent, further contributing to a rise in companies' foreign debt.
The Turkish lira
has sunk to record lows against the dollar, while stocks in the country have also suffered following probes into public sector corruption allegations.
rallied slightly shortly after the announcement.
TAKES TOLL The central bank raised its overnight lending rate, the upper end of the interest rate corridor it uses to control monetary conditions, for a second straight month last week, hiking it by 50 basis points to 7.
represents the opportunities that exist in Africa and she showcases the new Africa that we are excited to be a part of.
You can take traveller's cheques but a pre-paid cash card, which you can use to withdraw Turkish lira
, is probably more useful.
Analysts also noted that the deal was priced in volatile Turkish lira
, making it a riskier bet.
Turkey boasts the world's highest denomination current banknote, for 20 million lira
- worth about pounds 7.
The higher taxation slowed the economy, leading the IMF to propose devaluing the lira
to stimulate exports for economic growth.
A section entitled "The Lira
da Braccio in Works of Art" consists of a systematic analysis of one hundred or so pictorial representations.
The new Turkish lira
is the current currency of Turkey and Turkish Republic of Northern Cyprus, issued on January 1, 2005.
ySTANBUL (CyHAN)- The lira
has been the third-biggest loser in value against the US dollar since the beginning of this year, a recent report from investment management firm BlackRock has said.