USD/TRY: Relentless Lira depreciation trend in the background to persist – Commerzbank USDTRY Turkey Banks
“As Lira weakness has persisted despite the recent ‘photo ops’ of CBT receiving $5 bn deposit from the Saudi government, fresh tightening of restrictions were deemed necessary. CBT issued guidance to all banks last week to widen their spreads on retail Dollar purchases which tantamounts to some ad hoc price control.”
“An ad hoc price control has little potential to stop the relentless depreciation trend in the background, let alone address any underlying economic imbalance.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
France Dernières Nouvelles, France Actualités
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