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Nevzat Devranoglu

UPDATE 2-Lira weakens on renewed worries over Turkey's reserves

18 Apr 2019

ANKARA/ISTANBUL, April 18 The Turkish lira weakened as much as 2 percent on Thursday, wiping out gains from a day earlier, as concerns about the central bank's reserves resurfaced and raised questions about the country's ability to weather another market selloff.

Turkey's economy to contract in 2019, longer recession ahead

12 Apr 2019

ANKARA Turkey's economy is expected to contract in 2019 after a decade of strong growth, and economists are predicting a longer recession ahead after a recent bout of volatility in the lira, a Reuters poll showed on Friday.

Turkish central bank seen holding off easing for longer: Reuters Poll

05 Apr 2019

ISTANBUL Economists expect Turkey's central bank to delay cutting rates until around July, and to ease policy less aggressively than previously thought, a Reuters poll showed on Friday after two weeks of volatility in the country's financial markets.

Turkish lira plunges again as London swap market revives

28 Mar 2019

ANKARA/ISTANBUL The Turkish lira was back in free fall on Thursday, dropping 5 percent as liquidity returned to a key London foreign-exchange market, prompting President Tayyip Erdogan to blame the currency's weakness on attacks by the West.

Turkey to shore up lira via tight supply through elections - sources

27 Mar 2019

ANKARA/ISTANBUL Turkey will keep directing its banks to withhold lira liquidity from a key foreign market at least until after local elections on Sunday, sources said, as the government intensifies efforts to defend the currency, which plunged last week.

UPDATE 4-Turkish central bank moves help lira, policy questions persist

26 Mar 2019

* Measure of implied volatility at highest since last September

Turkish investors dumping low-yield lira deposits drove up dollar - bankers

25 Mar 2019

ANKARA, March 25 Turkish individual investors who switched to foreign currency savings to avoid low interest returns on Turkish lira deposits played a major role in the currency's biggest one-day fall since August, bankers said on Monday.

UPDATE 3-Turkey extends tax cuts on goods in face of recession

21 Mar 2019

* Tax cuts seen giving central bank room for rate cut (Adds central bank data on forex holdings)

UPDATE 1-Forex held by Turks reaches record high as lira confidence declines

14 Mar 2019

ANKARA, March 14 Total foreign exchange, including precious metals, held by Turkish citizens and institutions rose to a record high of $171.8 billion as of March 8, data from the central bank showed on Thursday, signalling a decline of confidence in the lira.

UPDATE 2-Turkish central bank to hold AGM early; former bankers disapprove

03 Jan 2019

ANKARA, Jan 3 Turkey's central bank will hold its annual general meeting three months early, it said on Thursday, a move former central bankers said was aimed at transferring funds to the treasury before March local elections.

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