The Turkish lira has hit a fresh low of 3.13 against the US dollar in early trade on November 4 on the news that police detained 11 lawmakers from the pro-Kurdish opposition party HDP. Shortly after the detentions, a car bomb rocked Diyarbakir, the largest city in Turkey's mainly Kurdish southeast.
Nearly 30 people were wounded in the explosion that struck an area near a police station. The governor of Diyarbakir said the car bomb attack was carried out by the outlawed Kurdistan Workers’ Party (PKK).
The main stock exchange index, BIST-100, was down 1.27% while the yield on the 10-year bonds increased to 10.33% this morning from 10.20% on November 3.
Turkish assets have been under pressure for some time from a combination of several factors, including an expected rate hike by the US Fed by the end of the year, and the renewed talks of holding a referendum on the executive presidential system as well as the ongoing conflicts in Syria and Iraq.
Turkey will not extradite any terror suspects to the US if Washington continues to refuse to hand over Fethullah Gulen, President Recep Tayyip Erdogan said on January 11. Ankara blames the ... more
The Turkish central bank reported on December 7 that its gross forex reserves last week experienced a record drop, declining to $89.85bn on December 1 from $96.35bn a week earlier. ... more
EU governments have agreed with the European Parliament to withdraw €105mn that would have gone to help finance political ... more