TRY weakened nearly 3% on Thursday, giving up most of the gains from a rally a day earlier, as concerns persisted over surging inflation against a background of unorthodox policies aimed at boosting exports and growth. TRY lost 44% of its value against the dollar last year and a full-blown currency crisis was halted last...
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January 13, 2022January 13, 2022by CommentaryIn Daily News
TRY weakens nearly 3%, giving up some of Wednesday’s gains
January 10, 2022January 10, 2022by CommentaryIn Daily News
Card expenditures up due to inflation and TRY devaluation
BY SEBNEM TURHAN Turkey’s credit and debit card expenditures rose by 31.4% to TRY 213.6bn in December compared to November, according to the Central Bank. People’s grocery expenses surged by 38% to TRY 41.04bn and overall food spending increased by 37% in the same period. Skyrocketing inflation and the expectation that prices could increase at...