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Erdogan Wary as Lira Tanks


SAURABH KUMAR SHAHI | New Delhi, January 30, 2014 17:30
Tags : Turkish | PM | Erdogan |Syria |The Monetary Policy Committee |US dollar |Euro |

Misfortune seems not to have come alone for embattled Turkish PM Erdogan. If crisis in Syria and his feud with Gulen was not enough, it is now being reported that the value of Lira has started sliding dangerously against US dollar as well as Euro against which it has been pegged. In fact, Turkey’s central bank has called for an emergency meeting to work out an escape formula. “The Monetary Policy Committee is to convene soon to evaluate recent developments and take precautions which are necessary for price stability,” the central bank said in a statement early this week. 

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Issue Dated: Feb 5, 2017