Mark Mobius on weaker Turkish lira, investing in emerging markets

Mark Mobius, a prominent investor in emerging markets, said Turkey may not be the only country facing a currency crisis given the prospects of higher interest rates in the United States. “Yes, of course it can,” Mobius told CNBC, in response to a question about whether the sharp decline in Turkey’s currency – the lira … Read more

Turkish lira plummets to historic low after Erdogan sparks selloff

Turkish President Recep Tayyip Erdogan attends a press conference in Budapest, Hungary, November 7, 2019. Bernadette Szabo, Reuters The Turkish lira sank to another record low of 12.49 per dollar on Tuesday, a level that was once unfathomable and well beyond what was considered last week a “psychological” barrier of 11 against the dollar. “The … Read more

Turkish lira falls before central bank meeting

Turkish lira Muhammed Kalkan On Thursday, the Turkish lira continued its decline ahead of the country’s central bank meeting. The currency fell to a record low of 10.98 per dollar, but trimmed some losses to trade at 10.72 Thursday afternoon in Asia. Turkish President Recep Tayyip Erdogan on Wednesday caused the lira to appreciate when … Read more

Turkey’s Erdogan says continuing his battle against interest rates

Turkish President Recep Tayyip Erdogan delivers a speech after a cabinet meeting, in Ankara, on June 9, 2020. Adam Altan | AFP | Getty Images Turkish President Recep Tayyip Erdogan said on Wednesday he would not let interest rates crush people and would continue his fight against them “until the end,” a day before a … Read more