2020 May, 11, 04:26:51 PM

Turkey Lifted A Ban On Trading Liras With BNP Paribas

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Turkey lifted a ban on trading liras with BNP Paribas (OTC:BNPQY) SA, Citigroup Inc (NYSE:C). and UBS Group AG after they met local-currency obligations to Turkish lenders, according to people with direct knowledge of the matter.

A spokesman for the banking regulator confirmed the ban had been reversed.

Turkey imposed the ban last week after market interventions and new anti-manipulation rules failed to stem a lira rout. Restricting foreign investors’ access to lira liquidity made it difficult for them to bet against the currency.

The currency hit a low on Thursday after state media blamed unidentified financial institutions for manipulative attacks on the currency. It erased losses as word of the ban got out.

https://www.investing.com/news/forex-news/turkey-regulator-lifts-lira-trading-ban-with-bnp-citi-ubs-2167628

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