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Turkey's president Erdogan.

Turkey’s central bank is boosting its reserves with ‘off balance sheet’ short-term swaps — and investors are aghast

Turkey's central bank has admitted that much of its currency reserves are held in short-term swap contracts.

Turkey is investigating JPMorgan after the bank advised clients to short the lira

The lira tumbled 4% on Friday. At a rally on Sunday, President Erdogan warned the financial industry: "I will make you pay a very heavy price."
Nusret Gökçe, aka Salt Bae, is a Turkish butcher, chef, and restaurateur.

How Salt Bae’s debt-laden steakhouse is highlighting major issues in Turkey’s economy

The owner of the steakhouse with a famous chef is struggling with debt. It's a problem for Turkish firms with dollar-denominated loans after the lira's collapse.
Turkish Prime Minister Tayyip Erdogan (left) and central bank governor Durmus Yilmaz show Turkish banknotes during a news conference in October, 2008.

Turkey’s currency jumps after Washington and Ankara reportedly reach deal to release detained American pastor

The Turkish lira jumped Thursday after reports said its government could release a detained American within days, a step toward resolving tensions between Washington and Ankara that have helped roil the currency in recent months.

Turkey’s currency slides as inflation spikes to its highest level in 15 years

Turkey's currency slipped Wednesday after data showed inflation rising for a sixth straight month to its highest level in 15 years as a deepening crisis in the country pressures prices.
Turkish Prime Minister Tayyip Erdogan (left) and central bank governor Durmus Yilmaz show Turkish banknotes during a news conference in October, 2008.

Turkey could need a bailout that dwarfs the record-setting $50 billion loan that Argentina just got

Turkey may need more than just rate hikes to shore up capital. Specifically, it needs about $75 billion, according to Macquarie strategists Thierry Wizman and Gareth Berry, or about 1.5 times what the International Monetary Fund agreed to loan Argentina in the largest bailout deal in its history.

Turkey’s currency surges more than 3% on hopes a detained American pastor will be released

Turkey's currency rallied Monday amid reports Turkey could release an American whose controversial imprisonment has been at the center of an ongoing feud between Ankara and Washington.

The lira is going wild after the Turkish central bank defied Erdogan and hiked interest rates

Turkey's central bank raised its interest rate to 24% from 17.75% on Thursday, beating market forecasts. Earlier in the day, Turkish President Erdogan stoked fears that the central bank's independence could be under threat by calling for low interest rates.
Turkish President Recep Tayyip Erdogan makes a speech during a ceremony marking the second anniversary of the attempted coup at the Presidential Palace in Ankara, Turkey, July 15, 2018.

The Turkish lira dives after Erdogan calls for lower interest rates — stoking fears about central bank independence

Turkish President Recep Erdogan on Thursday called interest rates a "tool of exploitation" and called for low interest rates. The Turkish central bank is due to make its latest interest decision public later today.

Turkey’s currency plunges 3.5% amid ongoing feud between Washington and Ankara

Turkey's currency fell sharply Monday as the country resumed trading after a weeklong holiday.