US President Donald Trump has vowed no concessions in the ongoing row with Turkey, causing the lira to slip further. US sanctions have sunk the country into economic misery. But the crisis has deeper roots.
Changes in the management of the Turkish economy over the weekend raised hopes for a shift towards more orthodox monetary policy. The lira rallied on Monday as markets welcome the changes.
The resignation of Turkish Finance Minister Berat Albayrak comes as the lira has dropped to record lows. President Recep Tayyip Erdogan recently sacked the head of the country's central bank.
Turkish President Recep Tayyip Erdogan has fired the governor of the country's central bank. The move comes after Turkey's currency, the lira, fell to a record low.
Turkish President Recep Tayyip Erdogan says talks about the divided island of Cyprus should aim for a settlement between two separate states. Erdogan made his comments while attending a picnic in northern Cyprus.
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