You are Here
After Second Worst Week In A Quarter Century, Turkey Engineers Lira Bounce With Swaps Crackdown

After Second Worst Week In A Quarter Century, Turkey Engineers Lira Bounce With Swaps Crackdown

1 min read
The lira rallied for a second session on Tuesday, hitting its strongest versus the dollar since ... well ... since Friday. (Annotating the lira's wild ride) Wednesday's rally comes after BDDK again moved to limit swaps, this time declaring transactions can't exceed 25% of banks' shareholder equity. That, just as Erdogan raised the stakes on Trump by slapping additional tariffs on U.S. imports including liquor, cars and rice. This is the second time this week that BDDK has moved to curtail
Subscribe or log in to read the rest of this content.

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Month’s Best

Tears For Capital

1 min read
Expectations matter, we're told. And they're rising when it comes to prices. According to the…

Quick! Somebody Save This Place

1 min read
"By the way, these presidents didn’t lead the changes as much as they were chosen…

You Are Not Capital. You Just Think You Are

1 min read
It's becoming apparent that between the general public's apathy, aversion to what I'll call "scare"…

What Does It Mean To Starve?

1 min read
Back in February, I removed a reader comment from an article called "The Children Are…

If Enough People Read This, Hyperinflation Is Coming Next Week

1 min read
Pernicious fictions You can feel the ground shifting. The pandemic forced the issue. Around this…

Bar Hopping & Bar Hoping

1 min read
My heart may be "as cold as hockey gloves" (to quote one of the most…