Turkish lira back under pressure amid Moody’s downgrade


The Turkish lira is under renewed pressure today (August 29) as a rating agency questioned the sustainability of banks’ financial positions. The central bank reacted by increasing banks’ overnight borrowing limits.

The currency lost 2.5% of its value against the dollar, falling to 6.44 in earlier trading today. It has depreciated by 70% in 2018 so far.

On Tuesday, August 28, the rating agency Moody’s downgraded 18 banks and two finance companies. “Turkish banks are highly reliant on foreign

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: