Baris Balci

1 month ago | bloomberg.com | Baris Balci |Beril Akman

Electronic boards display Turkish lira rates at currency exchange bureaus in Bodrum, Turkey, on Thursday, July 6, 2023. The lira has lost 28% of its value so far this year, the biggest decline among 31 major currencies tracked by Bloomberg, after the Argentine peso. Photographer: Moe Zoyari/Bloomberg(Bloomberg) -- Turkey’s central bank raised the reserve requirement ratios on banks’ short term liabilities abroad in a bid to discourage local banks from seeking cheap lira from offshore markets.

1 month ago | bloomberg.com | Baris Balci |Beril Akman

Shoppers browse garments for sale at the Findikzade market in Istanbul. (Bloomberg) -- A slowdown in Turkey’s inflation lost momentum in April, after a sharp selloff in lira assets triggered by the jailing of key opposition figure Ekrem Imamoglu. Annual consumer price growth fell to 37.9% in April, compared with 38.1% in March, the Turkish Statistical Institute said. Economists surveyed by Bloomberg expected a reading of 38%.