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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, Oct 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, Jun 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, Dec 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, Jun 2021
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A new economic order is emerging, and tariffs play no part in it

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China has been quietly working to rewrite the rules of global trade and finds itself in a strong position in the current trade war launched by Washington. A look around the world shows why.

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Why Libya isn't the right model for Iran’s nuclear climbdown

08 May 2025

Israel wants the total dismantlement and scrapping of all Iranian nuclear facilities, just like in Libya two decades ago. That is unrealistic for several reasons.

Ramzy Ezzeldin Ramzy
Rahaf Saad, a Palestinian girl who lost her legs in an Israeli air strike. REUTERS
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Missing limbs and broken dreams: Gaza's generation of child amputees

03 May 2025

Israel's war on Gaza has created the "largest cohort of child amputees in modern history". On the ground, Al Majalla speaks to affected families.

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Opinion

Trump's 'unforced errors' could accelerate America's decline

06 May 2025

If history is any judge, Trump's tariffs and damaging actions towards US allies could speed up the emergence of a multipolar world, much like George W. Bush's invasion of Iraq

Christopher Phillips

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