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  • Turkish Lira

Zekariya Cektir, 75, collects tobacco leaves in a field near Kurudere village, Adiyaman province, southeast Turkey, Wednesday, Sept. 28, 2022. Tobacco growers in southeast Turkey's Celikhan district are feeling the pinch as annual inflation reaches a new 24-year high. Official data released Monday Oct. 3, 2022 shows consumer prices rise 83.45% from a year earlier, further hitting households already facing high energy, food and housing costs. Experts say the real rate of inflation is much higher than official statistics, at an eye-watering 186%. (AP Photo/Emrah Gurel)

Record Inflation Squeezes Turkish Tobacco Workers, Owners

Mehmet Emin Calkan begins work harvesting a tobacco field in rural Turkey before dawn, then has another shift skewering and stringing the tobacco to dry under the sun. The 19-year-old, who hopes…

AP 03 October 2022
A money changer holds Turkish lira banknotes at a currency exchange office in Ankara, Turkey October 12, 2021. REUTERS/Cagla Gurdogan

Turkish lira Weakens Further After Erdogan Vows More Rate Cuts

Turkey's lira dipped 0.4% against the dollar on Tuesday as concerns over rampant inflation were stoked by President Tayyip Erdogan's pledge to continue cutting interest rates. In a Monday evening…

07 June 2022
Turkish financial expert Cüneyt Akman

Turkish Expert Asserts Continued Loss of Lira Amid Unchanged Economic Policies

The Turkish lira continues to touch record lows, the first of its kind, at a time when the Central Bank is trying to control its exchange rate against foreign currencies. The lira continues its…

Jiwan Soz 19 December 2021
A Syrian man pays with Turkish lira at a gas station in the town of Sarmada in Syria's northwestern Idlib province, on June 15, 2020. (Getty)

How Turkey Gains from Economic Takeover of Syrian Regions

Turkey has been forcing people for almost a year now to trade using its local currency in different Syrian regions that lie on its southern border and are under its army’s control. Likewise, these…

Jiwan Soz 11 June 2021
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Jared Kushner and Pakistan's Prime Minister Shehbaz Sharif interact in Islamabad, Pakistan, on 11 April 2026. Jacquelyn Martin/ REUTERS
Politics

‘Kushner and Witkoff spoiled the US-Iran talks’

13 April 2026

Sources tell Al Majalla that Iran was able to build a rapport with US Vice President JD Vance in Islamabad, but sensed his hands were tied in the presence of Trump's son-in-law and close friend

Kamal Alam
Eduardo Ramon
Politics

China and Russia's calculated backing of Iran

12 April 2026

Both Beijing and Moscow have pragmatic reasons to help Tehran raise the cost of US action. Each sees value in offering limited but meaningful support.

Michael Horowitz
Iranians mark 40 days since Ayatollah Ali Khamenei was killed in US-Israeli strikes at a demonstration in Tehran on 9 April, 2026. Majid Asgaripour / AFP
Politics

The US and Iran mull next moves amid shaky truce

10 April 2026

Washington weighs the desire to avoid a protracted war with offsetting the appearance of defeat, as Tehran debates whether to consolidate gains before conditions shift or press perceived advantages

Alex Vatanka
Al Majalla
Politics

The US-Iran war tanked Trump's popularity at home

07 April 2026

Instead of the "no endless wars" they were promised, Americans were thrown into a disastrous war and were feeling the economic pinch at the gas pump

Brian Katulis
Israeli Prime Minister Benjamin Netanyahu and Israeli National Security Minister Itamar Ben-Gvir shake hands during a session at the Knesset in Jerusalem, on 29 March 2026. Reuters
Politics

Palestinian executions are now official Israel policy

08 April 2026

Israel's parliament approved a draconian death penalty law last week that only applies to Palestinian prisoners, in a move that the UN says "would constitute a war crime"

Khaled Essam Eleslamboly

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