Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen correspondent: One martyr and one wounded in an Israeli drone attack on the town of Hafir, west of Baalbek, eastern Lebanon.
Al Mayadeen correspondent: An Israeli drone fired three missiles in the vicinity of the town of Bodai, west of Baalbek.
Reuters: The Rapid Support Forces announced that they have taken over the headquarters of the Sudanese Armed Forces in al-Fasher.
Al Mayadeen correspondent: An Israeli drone strike targeted the town of Al-Qlailah, Southern Lebanon.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strikes town of Harouf, Nabatieh district.
Factions' statement: The attendees agreed to support and continue implementing the ceasefire agreement measures, including the withdrawal of the occupation and lifting the siege.
Factions' statement: Calling for an end to all forms of torture and violations against prisoners in occupation prisons and the necessity of obligating the occupation to do so.
Statement: The current moment is crucial, making the meeting a true turning point toward national unity in defense of our people and their right to life, dignity, and freedom.
Factions' statement: Call for an urgent meeting of all Palestinian forces and factions to agree on a national strategy.
Factions' statement: Continuing joint work to unify visions and positions to confront the challenges facing the Palestinian cause.

Turkish President Erdogan declares end to Lira's decline

  • By Al Mayadeen English
  • Source: Agencies
  • 22 Nov 2023 16:37
2 Min Read

The Turkish president noted that constructive reforms and prudent economic policies are instilling confidence among investors.

  • x
  • Turkey's President Recep Tayyip Erdogan talks to the media during his visit at the chancellery with German Chancellor Olaf Scholz in Berlin, Germany, Friday, Nov. 17, 2023. (AP Photo/Markus Schreiber)
    Turkey's President Recep Tayyip Erdogan talks to the media during his visit at the chancellery with German Chancellor Olaf Scholz in Berlin, Germany, Friday, Nov. 17, 2023 (AP Photo/Markus Schreiber)

Turkish President Recep Tayyip Erdogan on Wednesday announced that the Turkish lira's decline has come to an end, expressing a strong likelihood of the currency gaining strength against the US dollar.

"The program we are conducting to reduce inflation with a very high probability can result in a real assessment of the lira's value. So the process of lira depreciation has ended, there is a high probability that the lira will strengthen," Erdogan told reporters upon his return from Algeria.

The Turkish president noted that constructive reforms and prudent economic policies are instilling confidence among investors, with the expectation that this will result in an influx of liquidity and an actual improvement in the lira's exchange rate.

"As a result, there will be reasonable [economic] growth and, at the same time, inflation will decrease," Erdogan added. 

Read more: Erdogan: Turkey-US deal impossible if Gaza seen as Israeli territory
 
Since the start of 2023, the Turkish currency has experienced monthly depreciation, with the exception of the month of August.

Related News

PKK withdrawal from Turkey marks key step in peace process: AKP

PKK announces full withdrawal from Turkey to Northern Iraq

The most significant decline occurred in June when the lira dropped by nearly 25%, falling from 20.8 liras to 26 liras per dollar. The following month, the exchange rate surpassed 27 liras.

October marked a historic low for the Turkish currency, reaching below 28 liras per $1 for the first time ever.

Despite the impression of a positive turn, as described by Erdogan, inflation in Turkey remains above 70 percent and is projected to average 65 percent in the year 2024, according to the country's Central Bank. 

Moreover, it is unlikely that any foreign currencies will pour into the Turkish economy before the elections are held. 

So the probability of the lira strengthening could be due for more time to come.

Read more: 'Israel' holding 10,000 Palestinians hostage, Erdogan says

  • Turkey
  • inflation
  • Erdogan
  • Turkish Economy
  • Turkish lira

Most Read

From previous scenes of the Qassam Brigades targeting an Israeli D9 bulldozer with a Yassin 105 shell, east of Deir al-Balah. (Military Media of the Qassam Brigades)

US knew fatal Rafah blast cause was not Hamas op., says journalist

  • Politics
  • 20 Oct 2025
'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Undated photo of Hanwha Ocean’s Goeje Shipyard in South Korea (Hanwha Ocean)
Politics

China counters US maritime bloc with sanctions on Hanwha Ocean

Catherine Connolly speaks after being after being elected as the new President of Ireland at Dublin Castle, Ireland, Saturday, Oct. 25, 2025. (AP)
Politics

Connolly wins Irish presidency in blow to political establishment

Buildings destroyed during the Israeli air and ground offensive are seen in the Al-Shati camp, in Gaza City, Friday, Oct. 24, 2025. (AP)
Politics

'Israel's' post-ceasefire demolitions in Gaza violate agreement: Hamas

Iran's Foreign Minister Abbas Araghchi attends the 17th annual BRICS summit in Rio de Janeiro, Brazil, July 7, 2025 (AP)
Politics

Iran’s Araghchi: Our nuclear bomb is resilience, not weapons

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS