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

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
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