Turkish Finance Minister visits London amid currency crisis

Finance Minister, Nureddin Nebati, visited London, Monday, to cooperate with investors between UK and Turkey, amid currency crisis in Turkey, Reuters reports.

According to the report, the lira weakened on Tuesday as Finance Minister, Nureddin Nebati, outlined Turkey’s unorthodox economic policies to investors in London, amid data showing foreign exchange reserves of the central bank had jumped from 5 to 6 billion dollars last week.

The lira fell 0.3 per cent to 13.62 to the dollar today, the report says.

Nebati said his investor meetings in London were very positive and they discussed Turkey’s new economic model.

He was due to hold two group meetings on Tuesday as part of his first trip abroad since taking office in early December.

Turkish Lira has remained stable this year, having fallen 44 per cent in 2021 after the central bank cut its key rate in line with an unorthodox policy led by President Tayyip Erdogan.

READ: Turkey lifts ban on scrap metal imports from Lebanon