Turkish lira down 0.8% after latest curbs on FX market

ISTANBUL, May 6 (Reuters) – Turkey’s lira slipped 0.8% and was among the weakest emerging-market currencies on Wednesday after a financial regulator clamped down further on foreign investors’ access to local currency liquidity.

The lira was at 7.122 against dollar at 0732 GMT, compared to 7.065 the day before. It slipped for a fifth straight session ahead of a planned conference call later on Wednesday between Finance Minister Berat Albayrak and investors.

Late on Tuesday, the BDDK banking watchdog said it will limit banks’ Turkish currency placements, depo, repo transactions and loans with foreign financial institutions to 0.5% of their legal capital.

Source: Read Full Article

Related News:
  1. Business future uncertain in Canmore due to COVID-19 pandemic
  2. China cbank injects $57 bln via medium term loans, keeps rate unchanged for 3rd straight month
  3. UPDATE 2-Argentina's $65 bln debt deal inches closer despite standoff
  4. What Xi means by 'disorderly capital' is $2 trillion question for investors
  5. Singapore companies ink two deals to import solar power from Indonesia