A massive winter storm has hit the eastern coast of the United States and the Canadian province of Ontario on Sunday, marked by sleet, high...


Thousands of Flights Suspended as Winter Storm hits Canada and the U.S. East Coast

One of the world’s most affluent oil producers can potentially become uninhabitable spurred on by climate change...


Climate Change May Render One of the World’s Largest Oil Producers Too Hot to Live in

The Antiviral COVID-19 drugs from Pfizer are seen as the next step in the fight against the virus...


COVID-19: Pfizer CEO sees a Return to ‘Normal Life’ in the Spring

The year 2022 has been projected as a prosperous one for cryptocurrency as digital money is set to benefit from the Asia-Pacific...


2022 Projected to Spell Well for Crypto as Asia-Pacific Market Retains Momentum

The European Union has found itself in a major predicament as the Influenza virus returns to the region earlier than...


‘Twindemic’: Europe in Jeopardy with Return of the Flu

Stock Market

25 Nov 2021

Turkish Lira Finally Rebounds After Months of Lows

Turkish Lira Finally Rebounds After Months of Lows

The Index Today

The Turkish Lira began on its recovery after reaching record lows caused by the President’s interest rate cuts. At 11.85 at 0400 GMT, the lira gained 1.9% from a close of 12.0820 on Wednesday. Last week it fell to its lowest level against the dollar at 13.45.

Prior to Wednesday, the currency fell at a record level against the dollar in 11 consecutive sessions, losing as much as 45% of its total value. President Erdogan’s fiscal policies have been criticized for the decline of the lira and the high inflation in the country.

©Photo: reuters.com