Pakistan News

    Exchange Rate Pakistan Rupee To Turkish Lira

  • Turkish lira is set to lose more

    ISTANBUL: Whichever way Turks vote on Sunday, the lira is tipped to keep sliding...

    This year’s second-worst performing major currency will lose 4 per cent more against an equally weighted basket of euros and dollars in the coming year, according to Credit Suisse Group, which ranks among the three most accurate lira forecasters for the past four quarters by Bloomberg...

  • Turkish lira slides as central bank help falls short

    Turkey's central bank on Tuesday relaxed foreign exchange rules to bolster the lira but the move, shrugged off by analysts, did little to stem the stricken currency's downturn...

    The bank said it had reduced its foreign exchange reserve requirement ratios to inject 1...

  • Turkish lira tanks on Trump’s tweet

    ISTANBUL: The embattled Turkish lira tumbled over 16 per cent to new record lows against the dollar on Friday as strains with the United States intensified, but President Recep Tayyip Erdogan defiantly proclaimed Turkey would emerge victorious in an “economic war”...

    Compounding the lira’s agony, President Donald Trump said he had doubled steel and aluminium tariffs on Turkey, noting that relations between the Nato allies were “not...

  • Turkish lira hammered again as crisis spills into Asian markets

    Asian markets tumbled and the Turkish lira dived almost eight per cent on Monday on fears that the economic crisis gripping Turkey could spill over into the global economy...

    With investors already on edge over the China-United States (US) trade war, the lira's collapse sparked a sell-off in Europe and New York at the end of last week, with safe-haven assets including the Japanese yen and Swiss franc rallying...

  • Turkish lira weakens 5pc

    ISTANBUL: Turkey’s battered lira weakened 5 per cent on Friday after a Turkish court rejected an American pastor’s appeal for release, drawing a stiff rebuke from President Donald Trump who said the United States would not take the detention “sitting down”...

    The lira has lost nearly 40pc of its value against the dollar this year, sparking a sell-off in emerging market currencies and weighing on global stocks...

  • Turkish lira weakens against dollar, minister warns on sanctions

    ISTANBUL: The Turkish lira weakened on Tuesday as investors weighed up Turkey’s efforts to manage its rift with the United States after Finance Minister Berat Albayrak warned US trade sanctions against Ankara could destabilise the Middle East...

    The row with Washington over an American evangelical Christian pastor detained in Turkey on terrorism charges has accelerated losses in the lira, which is down about 38 per cent against the...

  • Pakistan's exchange rate facing risks, UN body warns

    ISLAMABAD: The government’s policy of keeping the exchange rate stable by intervening in the foreign exchange market may become unsustainable if the US dollar appreciates against most major currencies in global markets, warns a new United Nations report...

    The stable exchange rate may be encouraging for some investors and traders, but the report warns that it is draining precious foreign exchange reserves...

  • Turkey overhauls interest rates, boosting bloodied lira

    ISTANBUL: Turkey’s central bank on Monday announced a long-awaited simplification of monetary policy to create one headline interest rate, boosting the lira following weeks of losses over uncertainty on the economy under President Recep Tayyip Erdogan...

    The lira has lost almost 13 percent in value over the last month alone as controversial comments by Erdogan about monetary policy added to anxiety over the broader health of the...

  • Turkey’s lira crisis: How bad can it get?

    What next? Turks have over the last half decade counted the rapid depreciation of the Turkish lira on the screens outside doviz (exchange) booths with a mixture of bewilderment, alarm and ironic amusement...

    But the haemorrhaging reached an unprecedented intensity in the last weeks as Turkey’s ties with the United States strained further and markets questioned their trust in Turkish policymakers, pushing the currency to five against...

  • Erdogan says lira crash 'political plot' against Turkey

    President Recep Tayyip Erdogan on Sunday said the crash of the Turkish lira, sparked by a bitter dispute with the United States, was a “political plot” against Turkey and warned Ankara would now seek new markets and partners...

    The dispute between the two NATO allies — which reached new intensity over the detention of an American pastor in Turkey — has hammered the lira and also raised questions over the future partnership between...

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