The Turkish lira plunged as much as 5 percent against the dollar on Thursday as ...
ANKARA - The Turkish lira plunged as much as 5 percent against the dollar on Thursday as investors continued to fret about moves by Turkish authorities to withhold lira liquidity from the London market.
It had raised the limit to 20 percent on Monday from 10 percent in a move aimed at increasing the bank’s forex reserves, which fell sharply in the first two weeks of March. Brokerage Integral Yatirim said volatility was likely to continue until the elections, making it difficult to identify a clear direction.On Wednesday it had surged as high as 1,200 percent in what was a stop-gap measure to bolster the lira. That was by far its highest on record, and economists said that level was no longer based on actual trading.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Turkish lira slides 5 percent ahead of key elections this weekendThe Turkish lira dropped by as much as 5 percent against the dollar on Thursday morning, as the country gears up for elections this weekend.
Read more »
Turkish watchdogs to probe JP Morgan after lira plungeTurkey's banking watchdog said it had launched an investigation into JP Mor...
Read more »
Turkish watchdogs probe JP Morgan after lira plungeBanking watchdogs are acting on complaints regarding a JP Morgan report on Friday that hurt reputation of Turkish banks and caused volatility in financial markets, Reuters reports.
Read more »
Stocks fall tracking global sell-off; Turkish lira recoversEmerging market stocks were set for their biggest one-day fall this year on Monday. But the Turkish lira recovered somewhat after Friday's sell-off.
Read more »
Wall Street bonuses tumble as big banks keep tax cutsWall Street slashed bonuses by a whopping 17% last year, even as profits across the securities industry reached an all-time high, according to a new report.
Read more »
Turkish watchdog to investigate JP Morgan, other banks: AnadoluTurkey's banking watchdog has launched an investigation into JP Morgan over...
Read more »
Turkey is investigating JPMorgan after the bank advised clients to short the liraThe lira tumbled 4% on Friday. At a rally on Sunday, President Erdogan warned the financial industry: 'I will make you pay a very heavy price.'
Read more »
Deutsche Bank shares slide 4 percent on report of capital raising for merger with CommerzbankShares of Deutsche Bank and Commerzbank slipped after a report in the Financial Times stated that the former is in talks to raise as much as 10 billion euros ($11.2 billion) in fresh equity to support their potential merger.
Read more »
Dollar rises as more central banks turn dovish, defies lower Treasury yieldsThe dollar rose on Thursday as many of its peers weakened after more central ban...
Read more »
Norwegian crown surges as central bank signals rates to rise againNorway's crown surged on Thursday after the central bank raised interest ra...
Read more »