Turkey Warns Banks Not to Lend to Firms Trading Liras Offshore
24 March 2022; MEMO: Turkey warned money lenders not to provide lira liquidity to companies looking to speculate in the offshore money market, Bloomberg reports.
According to the report, Turkish lira's offshore swap on Tuesday was becoming more difficult for foreign investors to hedge their exposure to lira assets. Due to offshore swap increase, Turkey's banking regülatör warned banks not to support investors trading liras offshore.