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Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

Turkiye's Central Bank dumps $26 bln to halt lira freefall

  • By Al Mayadeen English
  • Source: Agencies
  • 22 Mar 2025 16:05
2 Min Read

Imamoglu's arrest has ignited the largest protests in Turkiye in over a decade, with over 300,000 people rallying in Istanbul alone on Friday, according to CHP leader Ozgur Ozel.

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    A man, a Turkish flag draped on his back, stands in front of anti-riot police officers during clashes in a rally against the arrest of Istanbul's Mayor Ekrem Imamoglu, in Istanbul, Turkiye, Friday, March 21, 2025. (AP)

Turkiye's Central Bank has sold an estimated $26 billion in foreign currency reserves over just three days this week in a bid to stabilize the rapidly falling lira, according to a report by Haberturk on Saturday. The massive intervention coincided with mounting political unrest sparked by the arrest of Istanbul Mayor Ekrem Imamoglu, a key opposition figure and potential challenger to President Recep Tayyip Erdogan.

According to Haberturk, roughly $12 billion was injected into the market on Wednesday, with an additional $14 billion sold across Thursday and Friday. The lira nosedived after reports emerged of Imamoglu's detention on fraud and terrorism charges, shaking investor confidence and triggering the currency's sharp drop which breached the 41 mark against the US dollar.

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The Central Bank publicly confirmed on Thursday that it would begin currency sales to support the lira. This followed a single-day depreciation of over 10%, one of the steepest plunges in recent years.

Imamoglu's arrest has ignited the largest protests in Turkiye in over a decade, with over 300,000 people rallying in Istanbul alone on Friday, according to CHP leader Ozgur Ozel. The demonstrations quickly spread to at least 40 provinces, leading to violent clashes with riot police, mass arrests, and heightened political tensions.

Read more: Imamoglu declared as opposition presidential candidate despite arrest

President Erdogan, meanwhile, accused the opposition of "grave irresponsibility" and warned that Turkiye would not allow "street terror" to take hold — remarks that further intensified the sense of crisis in the country. The unrest has rattled markets, pushing the BIST 100 stock index down more than 8% by Friday afternoon.

  • Turkey
  • Turkish Central Bank
  • Mayor Ekrem Imamoglu
  • Turkiye
  • Turkish lira

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