November 24, 2020


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Turkey Bans Three Banks From Lira Transactions As Currency Hits Record Low

The money TRYTOM=D3 Stood at 7.0925 in 1600 GMT, firming 1.5 percent, shrinking to 1 percent to 7.2690.


A Foreign exchange dealer said those remarks helped weaken the money.

We believe the pressure about the lira will last in the brief term, the dealer said.

At the call with shareholders, Albayrak defended the policies of Ankara, stating reservations were adequate, based on participants.

But regardless of his optimism, investors dread Turkey could fight to deal with the money crunch.

Turkey’s central bank was burning faster than any other emerging – market bank foreign exchange reserves.

The lira diminished, Turkey printed regulations Thursday that could penalize associations spreading false or misleading information in markets.