Actions of the Central Bank of Turkey stimulate the growth of the national currency paired with the dollar.
Today, after the Central Bank of Turkey halved the limit on swap operations, the Turkish Lira moved to growth in pair with the us dollar
Now the country’s banks can make transactions with currency swaps (and similar operations) in the amount of not more than 25% of the share capital against 50% earlier. It is expected that this measure will make it difficult to play on the depreciation of the Lira for foreign investors.
“”They kill the offshore liquidity of the Lira to prevent foreigners from shortening the national currency,” said BlueBay Asset Management strategist Timothy ash.
Meanwhile, earlier, the Turkish authorities decided to increase import duties on a number of American goods, including passenger cars, alcoholic beverages, American-made tobacco products, as well as rice, coal and cosmetic products. Duties on cars will increase to 120%, on alcoholic beverages-up to 140%, on tobacco-up to 60%.
In the course of trading, the Lira rises in price to the dollar by 3.8%, rising to 6.1 Lira / $1.