Turks rush for USD as lira continues to depreciate amid high inflation

STORY: Turks rush for USD as lira continues to depreciate amid high inflation SHOOTING DATE: earlier footage DATELINE: March 8, 2024 LENGTH: 00:01:27 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city 2. various of exchange office, clerk in exchange office 3. various of Turkish Central Bank, Turkish lira 4. various of Grand Bazaar, exchange office in Istanbul, Türkiye STORYLINE: The U.S. dollar's ascent against the Turkish lira continued on Thursday, leading to increased demand for the U.S. currency among Turkish citizens. The dollar was trading at 31.85 liras at 2 p.m. local time (1100 GMT), showing a slight increase from Wednesday's closing rate of 31.79 liras. In Istanbul's Grand Bazaar, an area teeming with currency exchange offices, the dollar briefly surpassed the 32-lira mark on Wednesday, prompting a surge in demand for the greenback. Long lines have formed outside these exchange offices since Wednesday as people rush to acquire dollars in anticipation of further

Turkish currency hits historic low against U.S. dollar

STORY: Turkish currency hits historic low against U.S. dollar SHOOTING TIME: Jan. 11, 2024 DATELINE: Jan. 12, 2024 LENGTH: 00:01:10 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of exchange office 3. various of Turkish Central Bank, Turkish lira 4. various of people walking on street in Istanbul, Türkiye STORYLINE: The Turkish currency hit an all-time low against the U.S. dollar on Thursday, trading at over 30 liras per dollar. One dollar was traded at 30.01 liras at 10:25 a.m. local time (0725 GMT). The Turkish currency has lost over 37 percent of its value since last year and depreciated by 1.6 percent against the dollar in the first 10 days of 2024. Murat Sagman, an economist and portfolio manager, recalled that it was only in 2013 that a dollar was worth 2 liras. Economist Duran Bulbul warned that the dollar exchange rate may move towards 40 liras soon, under such challenges as high inflation. "The greenback will first smash th

Turkish currency hits record low against U.S. dollar

STORY: Turkish currency hits record low against U.S. dollar SHOOTING TIME: Jan. 2, 2024 DATELINE: Jan. 3, 2024 LENGTH: 00:01:03 LOCATION: ISTANBUL, Turkiye CATEGORY: ECONOMY SHOTLIST: 1. various of the Turkiye's central bank, Turkish lira 2. various of the Istanbul city in Turkiye 3. various of the exchange office, clerk in exchange office counting U.S. dollars in Istanbul, Turkiye 4. various of the Istanbul Stock Exchange in Turkiye STORYLINE: The Turkish currency hit an all-time low against the U.S. dollar on Tuesday, trading at over 29.70 liras per dollar. After seeing 29.77 at 12:58 p.m. local time (0958 GMT) against the greenback, the lira stood at 29.74, losing around 37 percent of its value since last year. Alaattin Aktas, an economist, told Cumhuriyet Daily that the dollar exchange rate is expected to increase to around 40 liras per dollar in 2024. "If the dollar exchange rate is adjusted according to the requirements of the economy, it will increase by the rate of inflation and reach a

Turkish currency hits fresh low against greenback

STORY: Turkish currency hits fresh low against greenback SHOOTING TIME: Nov. 30, 2023 DATELINE: Dec. 1, 2023 LENGTH: 0:01:11 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of Exchange office in Istanbul, Information including Turkish lira and US dollar value information at the exchange office in Türkiye 3. various of exchange office, clerk in exchange office counting U.S. dollars in Istanbul, Türkiye 4. various of Turkish Central Bank 5. various of Hafize Gaye Erkan, the Turkish Central Bank governor 6. various of Turkish Central Bank, Turkish lira STORYLINE: The Turkish currency hit a fresh low against the U.S. dollar on Thursday, trading at nearly 29 liras per dollar. After fluctuating around the 29 thresholds in the early morning trading, the lira stood at 28.95 against the greenback at 11:15 a.m. local time (0815 GMT). The currency has lost about 35 percent of its value against the dollar since the beginning of this year. The lira hit 31.90

China's upbeat economic prospects underpin yuan's long-term strength

STORY: China's upbeat economic prospects underpin yuan's long-term strength DATELINE: Sept. 16, 2023 LENGTH: 00:01:57 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of the views in China 2. SOUNDBITE 1 (English): BISHNU PUKAR SHRESTHA, Nepal's Ambassador to China 3. SOUNDBITE 2 (English): HARLEY SEYEDIN, President of American Chamber of Commerce in South China STORYLINE: Despite short-term fluctuations, the Chinese yuan has been able to maintain its basic stability in the longer term. On Friday, the central parity rate of the yuan strengthened for a fifth consecutive trading day against the U.S. dollar, 88 pips firmer from the previous trading day to 7.1786, according to the China Foreign Exchange Trade System (CFETS). This marks the yuan's strongest level in nearly two weeks. The yuan's central parity rate has strengthened by 364 pips against the greenback this week. Yuan's return to strength this week came after the country's central bank, the PBOC, pledged to resolutely fend off risks o

Chinese Yuan USD Exchange Rate

Chinese Yuan USD Exchange Rate

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang city, East China's Anhui province. The renminbi fell below its previous lows against the US dollar in both onshore and offshore markets as the greenback continued to strengthen. On September 8, the spot exchange rate of the renminbi hit 7.34 against the dollar at the opening, breaking through the low of early November last year and hitting a new low since the end of 2007.

Chinese Yuan USD Exchange Rate

Chinese Yuan USD Exchange Rate

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang city, East China's Anhui province. The renminbi fell below its previous lows against the US dollar in both onshore and offshore markets as the greenback continued to strengthen. On September 8, the spot exchange rate of the renminbi hit 7.34 against the dollar at the opening, breaking through the low of early November last year and hitting a new low since the end of 2007.

Turkish lira falls to new low against greenback

STORY: Turkish lira falls to new low against greenback DATELINE: Aug. 8, 2023 LENGTH: 00:01:31 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of exchange office in Istanbul 3. various of Türkiye's central bank 4. SOUNDBITE (Turkish): MURAT TUFAN, Analyst with the Ekoturk broadcaster STORYLINE: The Turkish currency hit a fresh low against the U.S. dollar on Monday, trading over 27 liras per dollar. After seeing 27.32 in the early morning against the greenback, the lira stood at around 27 in the afternoon, losing about 30 percent of its value since the beginning of this year. The currency tested over 30 thresholds against the euro in the morning and later dropped to 29.68. Türkiye's central bank raised the policy rate from 8.5 percent to 15 percent in June and further to 17.5 percent in July. However, markets expect more aggressive interest rate hikes to better cope with the devaluation of the currency and the rising inflation rate. The country's

Turkish lira falls ahead of central bank decision

STORY: Turkish lira falls ahead of central bank decision DATELINE: July 19, 2023 LENGTH: 00:00:54 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city 2. various of exchange office in Istanbul 3. various of Türkiye's central bank 4. various of Hafize Gaye Erkan, governor of Türkiye's central bank STORYLINE: Turkish lira weakened more than 2 percent on Tuesday against the U.S. dollar ahead of a key rate decision by the central bank. The lira stood at 26.96 against the dollar at 4:00 p.m. local time (1300 GMT) after falling to a record low of 27. The currency has lost about 30 percent of its value against the greenback this year. Lira's depreciation came as the central bank is due to make a decision on its key interest rate on Thursday. In June, the bank hiked the interest rates by 15 percent, the first increase in 27 months, under the central bank's new governor Hafize Gaye Erkan. President Recep Tayyip Erdogan, a staunch supporter of low rates policy despite soaring infl

YEMEN-ADEN-CURRENCY-DEVALUATION

YEMEN-ADEN-CURRENCY-DEVALUATION

(230710) -- ADEN, July 10, 2023 (Xinhua) -- A vendor sells bananas at a local market in Aden, southern Yemen, on July 10, 2023. The Yemeni riyal plummeted on Sunday to a new low against the U.S. dollar, raising concerns about an impending economic crisis. Money traders in the southern port city of Aden and other government-controlled areas confirmed to Xinhua that the Yemeni riyal declined sharply to 1,430 against the greenback, marking the lowest exchange rate since the beginning of this year. (Photo by Murad Abdo/Xinhua)

YEMEN-ADEN-CURRENCY-DEVALUATION

YEMEN-ADEN-CURRENCY-DEVALUATION

(230710) -- ADEN, July 10, 2023 (Xinhua) -- A vendor sells vegetables at a local market in Aden, southern Yemen, July 10, 2023. The Yemeni riyal plummeted on Sunday to a new low against the U.S. dollar, raising concerns about an impending economic crisis. Money traders in the southern port city of Aden and other government-controlled areas confirmed to Xinhua that the Yemeni riyal declined sharply to 1,430 against the greenback, marking the lowest exchange rate since the beginning of this year. (Photo by Murad Abdo/Xinhua)

TÜRKIYE-ISTANBUL-LIRA PLUNGES TO NEW LOWS

TÜRKIYE-ISTANBUL-LIRA PLUNGES TO NEW LOWS

(230624) -- ISTANBUL, June 24, 2023 (Xinhua) -- Tourists are seen at an exchange office in Istanbul, Türkiye, on June 23, 2023. Turkish currency on Friday sank to fresh lows against the U.S. dollar a day after the central bank hiked its key interest rate well below market expectations. The lira hit 25.0 against the greenback at around 11 a.m. local time (0800 GMT). The currency's depreciation has exceeded 20 percent since the beginning of the year. (Photo by Omer Kuscu/Xinhua)

TÜRKIYE-ISTANBUL-LIRA PLUNGES TO NEW LOWS

TÜRKIYE-ISTANBUL-LIRA PLUNGES TO NEW LOWS

(230624) -- ISTANBUL, June 24, 2023 (Xinhua) -- People walk past a billboard displaying exchange rates in Istanbul, Türkiye, on June 23, 2023. Turkish currency on Friday sank to fresh lows against the U.S. dollar a day after the central bank hiked its key interest rate well below market expectations. The lira hit 25.0 against the greenback at around 11 a.m. local time (0800 GMT). The currency's depreciation has exceeded 20 percent since the beginning of the year. (Photo by Omer Kuscu/Xinhua)

TÜRKIYE-ISTANBUL-LIRA PLUNGES TO NEW LOWS

TÜRKIYE-ISTANBUL-LIRA PLUNGES TO NEW LOWS

(230624) -- ISTANBUL, June 24, 2023 (Xinhua) -- People change money at an exchange office in Istanbul, Türkiye, on June 23, 2023. Turkish currency on Friday sank to fresh lows against the U.S. dollar a day after the central bank hiked its key interest rate well below market expectations. The lira hit 25.0 against the greenback at around 11 a.m. local time (0800 GMT). The currency's depreciation has exceeded 20 percent since the beginning of the year. (Photo by Omer Kuscu/Xinhua)

Turkish lira dips after central bank hikes interest

STORY: Turkish lira dips after central bank hikes interest DATELINE: June 23, 2023 LENGTH: 00:01:30 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of an exchange office in Istanbul, Türkiye 3. various of the Istanbul Stock Exchange in Türkiye 4. various of Türkiye's central bank 5. various of Hafize Gaye Erkan, governor of Türkiye's central bank (courtesy of Ihlas news agency) 6. various of Turkish President Recep Tayyip Erdogan in Ankara, Türkiye (file) 7. various of Turkish Finance Minister Mehmet Simsek in Ankara, Türkiye (file) STORYLINE: Turkish currency on Thursday hit an all-time low against the U.S. dollar after the central bank hiked the interest rate well below market expectations. The lira hit 24.49 against the greenback on Thursday afternoon after the rate decision, dropping further from Wednesday's rate of 23.55. The currency's depreciation against the greenback has exceeded 20 percent since the beginning of the year. Meanwhile, Türk

Turkish lira sinks to record low against USD

STORY: Turkish lira sinks to record low against USD DATELINE: June 8, 2023 LENGTH: 00:01:22 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul 2. various of the currency exchange office in Istanbul 3. various of Istanbul Stock Exchange 4. a file footage about a press conference of Turkish President Recep Tayyip Erdogan in Ankara (Ihlas News Agency) 5. a file footage about a press conference Turkish Finance Minister Mehmet Simsek in Ankara (Ihlas News Agency) 6. various of Istiklal Street in Istanbul STORYLINE: The Turkish currency hit an all-time low against the U.S. dollar on Wednesday, trading at over 23 liras. After seeing 23.17 at 1:23 p.m. local time (1023 GMT) against the greenback, the lira stood at 23.05, losing around 7 percent of its value in a single day. The currency tested over 25 thresholds against the Euro in the morning and later dropped to 24.85. Meanwhile, the benchmark BIST-100 Index at the Istanbul Stock Exchange exceeded the 5,600 level on the same day, r

Turkish currency breaks record low threshold against U.S. dollar

STORY: Turkish currency breaks record low threshold against U.S. dollar DATELINE: March 17, 2023 LENGTH: 00:01:46 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of exchange office 3. various of Turkey's central bank 4. various of people walking on the street 5. various of Murat Tufan, an analyst with Turkish broadcaster Ekoturk STORYLINE: The Turkish currency sank to a record low against the U.S. dollar on Thursday, trading at over 19 Turkish Lira amid local and global uncertainties. After surpassing the resistance level of 19, one dollar stood at 19.01 liras at 2:00 p.m. local time (1100 GMT). The currency has lost about 70 percent of its value against the greenback since the beginning of 2022. Turkish people have long been struggling against rising living costs triggered by a high inflation rate, which hit a 24-year high of 85.51 percent in October 2022. The inflation stood at 55.18 percent in February, but the actual cost of living experience

PAKISTAN-KARACHI-U.S. DOLLAR-BLOW

PAKISTAN-KARACHI-U.S. DOLLAR-BLOW

(230303) -- KARACHI, March 3, 2023 (Xinhua) -- A man shows U.S. dollar banknotes in Karachi, Pakistan, March 2, 2023. Pakistani rupee suffered a big blow against the U.S. dollar as the greenback was traded at a historic low of 285.09 rupees in the interbank market on Thursday, according to the State Bank of Pakistan. (Str/Xinhua)

U.S. dollar usage surge draws concern in Zimbabwe as local dollar slides

STORY: U.S. dollar usage surge draws concern in Zimbabwe as local dollar slides DATELINE: Feb. 25, 2023 LENGTH: 0:01:54 LOCATION: Harare CATEGORY: ECONOMY SHOTLIST: 1. various of Zimbabwe 2. SOUNDBITE 1 (English): PROSPER CHITAMBARA, Economist 3. SOUNDBITE 2 (English): CHRISTOPHER MUGAGA, Economist 4. SOUNDBITE 3 (English): DENFORD MUTASHU, President of the Confederation of Zimbabwe Retailers STORYLINE: Despite not being officially dollarized, the Zimbabwean economy has largely accepted the U.S. dollar as the medium of trade. Economists warn that the increased use of the greenback has brought challenges to the local economy. SOUNDBITE 1 (English): PROSPER CHITAMBARA, Economist "So when you are dollarized, the government is not able to fully influence macroeconomic aggregates through the monetary policy or even through the fiscal policy, so using the local currency allows us enough degrees of freedom to be able to influence macroeconomic objectives and aggregates and developments within the economy." SOU

SPAIN-MADRID-EURO-U.S. DOLLAR

SPAIN-MADRID-EURO-U.S. DOLLAR

(220712) -- MADRID, July 12, 2022 (Xinhua) -- Photo taken on July 11, 2022 shows the currency of euro and U.S. dollar in Madrid, Spain. The U.S. dollar appreciated in late trading on Monday as the euro fell noticeably. The dollar index, which measures the greenback against six major peers, jumped 0.95 percent to 108.0220. In late New York trading, the euro decreased to 1.0065 U.S. dollars from 1.0178 dollars in the previous session. (Xinhua/Meng Dingbo)

SPAIN-MADRID-EURO-U.S. DOLLAR

SPAIN-MADRID-EURO-U.S. DOLLAR

(220712) -- MADRID, July 12, 2022 (Xinhua) -- Photo taken on July 11, 2022 shows the currency of euro and U.S. dollar in Madrid, Spain. The U.S. dollar appreciated in late trading on Monday as the euro fell noticeably. The dollar index, which measures the greenback against six major peers, jumped 0.95 percent to 108.0220. In late New York trading, the euro decreased to 1.0065 U.S. dollars from 1.0178 dollars in the previous session. (Xinhua/Meng Dingbo)

Turkish currency plunges to new low against USD, signaling fresh inflation

STORY: Turkish currency plunges to new low against USD, signaling fresh inflation DATELINE: May 25, 2022 LENGTH: 00:01:55 LOCATION: ISTANBUL, Turkey CATEGORY: ECONOMY SHOTLIST: 1. various of exchange office in Istanbul, Turkey 2. various of Istanbul 3. various of exchange office in Istanbul, Turkey 4. various of clerk in exchange office counting U.S. dollars 5. various of employee in Turkey's central bank, 6. Turkey's central bank, Istiklal Street 7. various of cars moving in the city, people walking on the street 8. various of people shopping STORYLINE: The Turkish currency plunged to 16.17 on Tuesday morning against the U.S. dollar and lost over 1 percent of its value in 24 hours, signaling new price hikes in the upcoming month. After surpassing the resistance level of 16.00, one dollar stood at 16.09 Turkish liras at 3:45 p.m. local time (1245 GMT). The currency has lost almost 60 percent of value against the greenback since 2021. According to Murat Sagman, a portfolio manager and economist, the lates

PAKISTAN-INFLATION-DAILY LIFE

PAKISTAN-INFLATION-DAILY LIFE

(220512) -- KARACHI, May 12, 2022 (Xinhua) -- A money changer counts U.S. dollars at a shop in southern Pakistani port city of Karachi on April 7, 2022. Devaluation of the Pakistani rupee against the U.S. dollar continued as the greenback touched a historic high of 190.02 rupees in interbank trading on Wednesday, according to the latest figures from the State Bank of Pakistan (SBP). According to a recently available report of the Pakistan Bureau of Statistics released on May 2, inflation in the country, measured by the Consumer Price Index, was recorded as 13.37 percent in April, the highest in two years. (Str/Xinhua)

PAKISTAN-INFLATION-DAILY LIFE

PAKISTAN-INFLATION-DAILY LIFE

(220512) -- KARACHI, May 12, 2022 (Xinhua) -- People buy items at a shop in southern Pakistani port city of Karachi on April 7, 2022. Devaluation of the Pakistani rupee against the U.S. dollar continued as the greenback touched a historic high of 190.02 rupees in interbank trading on Wednesday, according to the latest figures from the State Bank of Pakistan (SBP). According to a recently available report of the Pakistan Bureau of Statistics released on May 2, inflation in the country, measured by the Consumer Price Index, was recorded as 13.37 percent in April, the highest in two years. (Str/Xinhua)

PAKISTAN-INFLATION-DAILY LIFE

PAKISTAN-INFLATION-DAILY LIFE

(220512) -- ISLAMABAD, May 12, 2022 (Xinhua) -- People shop at a supermarket in Islamabad, Pakistan on April 7, 2022. Devaluation of the Pakistani rupee against the U.S. dollar continued as the greenback touched a historic high of 190.02 rupees in interbank trading on Wednesday, according to the latest figures from the State Bank of Pakistan (SBP). According to a recently available report of the Pakistan Bureau of Statistics released on May 2, inflation in the country, measured by the Consumer Price Index, was recorded as 13.37 percent in April, the highest in two years. (Photo by Ahmad Kamal/Xinhua)

PAKISTAN-INFLATION-DAILY LIFE

PAKISTAN-INFLATION-DAILY LIFE

(220512) -- KARACHI, May 12, 2022 (Xinhua) -- A man buys vegetables in southern Pakistani port city of Karachi on April 7, 2022. Devaluation of the Pakistani rupee against the U.S. dollar continued as the greenback touched a historic high of 190.02 rupees in interbank trading on Wednesday, according to the latest figures from the State Bank of Pakistan (SBP). According to a recently available report of the Pakistan Bureau of Statistics released on May 2, inflation in the country, measured by the Consumer Price Index, was recorded as 13.37 percent in April, the highest in two years. (Str/Xinhua)

PAKISTAN-INFLATION-DAILY LIFE

PAKISTAN-INFLATION-DAILY LIFE

(220512) -- ISLAMABAD, May 12, 2022 (Xinhua) -- An employee fills tank of a vehicle at a fuel station in Islamabad, Pakistan on April 7, 2022. Devaluation of the Pakistani rupee against the U.S. dollar continued as the greenback touched a historic high of 190.02 rupees in interbank trading on Wednesday, according to the latest figures from the State Bank of Pakistan (SBP). According to a recently available report of the Pakistan Bureau of Statistics released on May 2, inflation in the country, measured by the Consumer Price Index, was recorded as 13.37 percent in April, the highest in two years. (Photo by Ahmad Kamal/Xinhua)

Turkish currency hits record low against U.S. dollar amid high inflation

STORY: Turkish currency hits record low against U.S. dollar amid high inflation DATELINE: May 10, 2022 LENGTH: 0:01:43 LOCATION: ISTANBUL, Turkey CATEGORY: ECONOMY SHOTLIST: 1 various of money exchange offices in Turkey 2 various of street views 3 various of market STORYLINE: The Turkish currency broke through a key threshold Monday against the U.S. dollar amid the soaring inflation rate. At 2:10 p.m. (1110 GMT), one dollar was traded at 15.03 Turkish liras, exceeding the resistance level of 15.00. The currency has lost almost 60 percent of value against the greenback since 2021. The renewed depreciation of the Turkish currency came after the country's inflation rose at a monthly rate of 7.25 percent in April and 69.97 percent from a year earlier, the highest in the last two decades. According to the Turkish statistical institute, the depreciation was driven mainly by growing transportation and food prices. The Turkish economy has long been suffering from a series of turmoil, including the co