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Report: Turkey’s September Gold Imports up by 1,700% as Individuals Swap Falling Lira With the Precious Metal

Turkey’s gold imports of just over 39,000 kilograms in September 2022 are more than 16 times the quantity that was brought into the country in September 2021. The surge in…

Continue ReadingReport: Turkey’s September Gold Imports up by 1,700% as Individuals Swap Falling Lira With the Precious Metal

Latest Turkey Inflation Rate of 79.6% the Highest in 24 Years — Weakening Lira and Russia-Ukraine War Blamed

According to the latest data from the Turkish Statistical Institute, the country’s annual inflation rate for the month of July was 79.6%, the highest in 24 years. Rising transportation costs,…

Continue ReadingLatest Turkey Inflation Rate of 79.6% the Highest in 24 Years — Weakening Lira and Russia-Ukraine War Blamed

Turkey Reveals Scheme That Encourages the Conversion of Gold Deposits Into Lira Time Deposits

The Central Bank of the Republic of Turkey recently revealed it made the decision to provide incentives to gold deposit and participation fund holders that request to convert these into…

Continue ReadingTurkey Reveals Scheme That Encourages the Conversion of Gold Deposits Into Lira Time Deposits