This Hanukkah Give the Gift of Truth

The Media Line led twenty years ago in pioneering the American independent news agency in the Middle East, arguably the first in the region. We have always stayed true to our mission: to provide you with contextual sourced and trustworthy news. In an age of fake news masquerading as journalism, The Media Line plays a crucial role in providing fact-based news that deserves your support.

We're proud of the dozens of young students we've trained in our Press and Policy Student Program who will form the vanguard of the next generation of journalists to the benefit of countless millions of news readers.

Non-profit news needs public support. Please support us with your generous contributions:
We thank our loyal readers and wish you all the happiest of holidays
The Media Line
Turkey’s Lira Continues Crash to Historic Lows

Turkey’s Lira Continues Crash to Historic Lows

The Turkish lira continued to plummet on Wednesday, a day after it fell 15% in the wake of recent rate cuts staunchly defended by Turkey’s President Recep Tayyip Erdogan. The lira has lost 43% of its value since the beginning of the year and declined nearly 24% since last week. The lira was trading at 12.7272 to the dollar at the end of the day Tuesday.

Erdogan defended the rate cuts on Monday, saying that lower rates will help spur economic growth and create jobs. He said that with the cuts, the country is fighting an “economic war of independence”. This reportedly led to the further crash of the Turkish currency.

It is the third rate cut in three months, and economists have warned that such rate cuts will lead to increasing inflation. The price of basic goods in Turkey has soared and salaries have significantly devalued, as Turkish families struggle to make ends meet.

Give the Gift of Trusted News!

Dear friends,

The Media Line is always there to report to you the stories and issues of the Middle East – completely and in context: TML is the source you can trust.

Know The Media Line to Know The Middle East!

Please support our ad-free, nonprofit news agency. Our seasoned journalists reporting from the Middle East are working day and night during these challenging, yet defining times; and our student interns are honing their knowledge and skills, preparing to emerge as tomorrow’s journalists.

You rely on us and we’re relying on you! Make your online tax-deductible donation here and contact us regarding donations through appreciated stock, donor advised funds, qualifying IRA distributions and other charitable instruments.

Thank you for confidence in The Media Line.
Felice Friedson
Founder, President

Invest in the
Trusted Mideast
News source.
We are on the
front lines.

Personalize Your News
Upgrade your experience by choosing the categories that matter most to you.
Click on the icon to add the category to your Personalize news
Browse Categories and Topics
Wake up to the Trusted Mideast News source Mideast Daily News Email
By subscribing, you agree to The Media Line terms of use and privacy policy.
Wake up to the Trusted Mideast News source Mideast Daily News Email
By subscribing, you agree to The Media Line terms of use and privacy policy.