Turkey spends record $12bn defending lira after Erdoğan rival’s arrest

After Imamoglu's arrest, the Turkish lira's exchange rate against the euro and the dollar plunged and lost up to 8% on the first day.

Turkey spends record $12bn defending lira after Erdoğan rival’s arrest

Central bank’s currency intervention came as officials ‘lost control’ of market following Ekrem İmamoğlu’s detention

Protests erupt across Turkey after Erdogan rival arrested

Protests erupt in cities across Turkey after President Recep Tayyip Erdogan's political rival Ekrem Imamoglu is arrested

Turkey’s shaky economy early casualty of Imamoglu’s arrest on terror charges

The arrest of Istanbul Mayor Ekrem Imamoglu on dubious terror charges has rattled investor confidence, sending the lira plunging, triggering market turmoil and raising fears of prolonged political instability.

Turkey faces investor flight and political freefall after opposition leader's arrest

Concern over stability and economic security in Turkey could damage financial inflows at a time when investor confidence in the country is already shaky.

Turkish Central Bank Acts Amid Political Crisis – Famagusta Gazette

FAMAGUSTA GAZETTE – The Central Bank of Turkey and major bank representatives convened yesterday to address market instability following the arrest of opposition figure Ekrem Imamoglu. Financial experts voiced concerns over the market’s reaction, noting that the Central Bank intervened by injecting $12 billion on the first day of the exchange rate surge. Additional foreign exchange sales of $14 billion on Thursday and Friday brought the total in…