Venezuela Devalues Currency and Hikes Wages, Stoking Fears About Instability

Venezuelans are bracing for a currency reform set to take effect Monday, in which five zeros will be removed from the currency to create the so-called sovereign bolivar. Photo: Miguel Gutierrez/Zuma Press 361 Comments By Kejal Vyas and Maolis Castro…

Turkey Was Ripe for a Currency Crisis. Will It Spread?

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Turkey braces for hard times amid currency crisis, US spat

ISTANBUL –  Some Turks are reacting with defiance to their plunging currency and an escalating trade and political dispute with the United States — an indication that they are ready to endure economic pain and risk further deterioration in a…

Turkey braces for hard times amid currency crisis, US spat

Some Turks are reacting with defiance to their plunging currency and an escalating trade and political dispute with the United States — an indication that they are ready to endure economic pain and risk further deterioration in a key, yet…

Qatar to aid Turkey, currency rallies but US says tariffs to stay

ISTANBUL/WASHINGTON (Reuters) – The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a…

Qatar to aid Turkey, currency rallies but US says tariffs to stay

ISTANBUL/WASHINGTON (Reuters) – The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a…

Turkey's Banks Bear Weight of Currency Crisis

7 Comments By Patricia Kowsmann Patricia Kowsmann The Wall Street Journal Biography @kowsmann Updated Aug. 14, 2018 3:13 p.m. ET Turkey’s banks are feeling the brunt of the country’s steep currency slide. Their health will be a barometer of how…

Turkey's currency plunge fans fears of new global financial crisis

Turkey’s plight deepened on Monday as the lira fell to new lows and President Recep Tayyip Erdogan’s refusal to abandon his unorthodox economic policies left investors fearing a new global financial crisis. Turkey and other countries that borrowed freely when…

Why Turkey's currency crisis is rattling Europe bank stocks and the euro

Emerging markets are enduing a drubbing as a currency crisis in Turkey takes a toll on investor appetite, but the episode also serves as a reminder that Europe’s banking system continues to be seen as a threat to global growth…

Turkey's Currency Crisis Tests Erdogan's Authoritarian Approach

Turkey’s Currency Crisis Tests Erdogan’s Authoritarian Approach ImageA mosque under construction on Taksim Square in Istanbul.CreditNicole Tung for The New York Times By Carlotta Gall Aug. 13, 2018 ISTANBUL — President Recep Tayyip Erdogan has long made clear that he…