Turkish lira sinks to record low against USD as presidential poll heads to runoff

STORY: Turkish lira sinks to record low against USD as presidential poll heads to runoff DATELINE: May 17, 2023 LENGTH: 00:01:56 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of Turkish citizens vote in the ballot boxes 3. various of people shopping in supermarket 4. Borsa Istanbul Stock Exchange STORYLINE: The Turkish lira hit a record low of 19.70 against the U.S. dollar on Tuesday as the presidential election is heading to a runoff on May 28 after Sunday's inconclusive vote. In the open market, the exchange rate went as high as 22 liras per dollar on Monday before falling back to 20.25 on Tuesday. Turkish people have long been suffering high living costs triggered by a soaring inflation rate, which hit a 24-year high of 85.5 percent in October of last year before falling back to 43.68 percent in April. Turkish President Recep Tayyip Erdogan has been employing unorthodox policies such as lowering interest rates, claiming such policies

Turkey's stock exchange plummets over 9 pct amid Ukraine crisis: media

STORY: Turkey's stock exchange plummets over 9 pct amid Ukraine crisis: media DATELINE: Feb. 25, 2022 LENGTH: 00:01:13 LOCATION: ISTANBUL, Turkey CATEGORY: ECONOMY SHOTLIST: 1. shots of Stock Exchange Istanbul Building in Istanbul 2. shots of economists working in Borsa Istanbul offices in Istanbul 3. shots of Istanbul city in Turkey 4. shots of exchange office in Istanbul 5. shots of clerk counting US dollars in exchange office in Istanbul STORYLINE: Turkey's stock exchange Borsa Istanbul plummeted over 9 percent on Thursday after Russia started a military operation against Ukraine, local media reported. Dunya daily said on its website that sharp losses were especially reported in Russia and Ukraine-linked Turkish companies, such as Turkish Airlines and Tekfen Holding. Borsa Istanbul was temporarily closed, and the transactions were temporarily suspended, press reports said. Meanwhile, the Turkish currency lira weakened as far as 14.73 against the U.S. dollar and stood at 14.50 by 3:38 p.m. lo