0 Jon Steeler Posted March 28, 2019 Author Share Posted March 28, 2019 Quote Link to comment Share on other sites More sharing options...
0 Djamel Brahimi Posted March 28, 2019 Share Posted March 28, 2019 Investors in Turkey are starting to panic as the country has made it nearly impossible for investors to sell the Lira, in turn avoiding a currency slide that could affect the current president before local elections. Many investors have lira trades on that they may want to exit but are unable to as Turkish banks are restricting liquidity in the currency in order to halt the same slide that happened last June. According to Bloomberg foreign investors have been trying to get out of Turkish holdings since last week but are unable to as local banks are under pressure not to provide liras therefore restricting the ability to sell the currency. On top of that the cost of borrowing the currency has surged further reducing liquidity and investors trying to sell off the lira are struggling to find buyers which in turn is driving up the rates. So far the plan has worked as the currency gained 3.8% on Monday. Quote Link to comment Share on other sites More sharing options...
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