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Wednesday, October 16, 2019

Tag: lira

Lira’s crash stuns Japan’s mom-and-pop investors again

The Turkish lira has plummeted as much as 12% against the yen on Monday, making Japanese investors liquidate positions for the second time this year.

Turkish lira steady, shrugs off Ankara’s removal from F-35 programme

The lira was trading at 5.6860 against the dollar at 6.37am GMT, little change from Wednesday's close of 5.6840.

Turkey tells banks to slow FX purchases in latest lira defense

ISTANBUL: Turkey told banks to wait one day before settling some large foreign-currency purchases, the latest move to defend the lira as President Recep...

Turkey probes JPMorgan after lira’s worst drop since 2018 crash

Two JPMorgan analysts that recommended selling the lira against the dollar had 'misguiding and manipulative' content that resulted in volatility in markets.

World’s riskiest assets suddenly seem a whole lot more appealing

Leading the charge among currencies was the Turkish lira, one of last year’s biggest losers.

Turkish inflation surges to new 15-year high of over 25%

Prices have soared in Turkey over the last months as the lira came under pressure, stoking fears over the long-term economic health of the country.

Turkey inflation surges to nearly 25% in Sept, highest in 15...

Turkey's lira has fallen some 40% this year, hit by concerns about President Tayyip Erdogan's control over monetary policy and a diplomatic rift with the United States.

Turkey orders arrest of 417 suspects in money laundering investigation

The vast majority of the recipients of the funds were Iranian citizens resident in the United States, according to a statement from Istanbul's chief prosecutor.

Turkey banks tap US$4.5 billion gold reserves to shore up finances

The banks borrow on international markets in hard currencies, hedging dollar liabilities with gold deposits rather than the volatile lira, even though their loan assets are denominated in lira.

Asian markets build on trade talks rally, Turkish lira holds up

The news provided some much-needed support, which was improved on later in the day with data showing US consumer price inflation slid in August, easing pressure on the Federal Reserve to tighten borrowing costs.

Trade woes push EM stocks to 15-month low, currencies bounce

Investors nerves have been raw since US President Donald Trump said he was ready to impose tariffs on virtually all Chinese imports into the US, increasing chances that the trade row between US and China would hit global growth.

Pakar: Malaysia terlindung daripada penularan masalah kewangan ekonomi membangun

Kejatuhan ketara peso Argentina mengikuti lira Turki, sekali lagi mencetuskan kebimbangan mengenai risiko kesan penularan dalam kalangan mata wang ekonomi pesat membangun.

Asian shares fall under pressure from trade, emerging markets worries

US President Donald Trump gave fresh impetus to trade worries at the weekend when he said there was no need to keep Canada in the North American Free Trade Agreement and warned Congress not to meddle with the trade talks.

Indian rupee touches record low as Asia markets tumble

A report that Donald Trump is planning to impose tariffs on a further US$200 billion of Chinese imports next week has increased trading floor fears, with most equity markets across the region also down.

Asian markets bruised by Trump’s trade war threats

Many emerging market currencies were also frail after Argentina's peso sank on Thursday despite the central bank's interest rate hike.

Rupiah falls to Asian crisis low as emerging market pain spreads

As investors dumped Turkish and Argentinian assets, countries with large current-account deficits such as Indonesia and India have also seen their currencies and bonds come under selling pressure.

Turkey’s battered lira tumbles again over outlook fears

The lira has lost just under a third in value against the dollar, as anxiety over the coherence of domestic economic policy coupled with sanctions announced by the US generate market panic.

Erdogan moves to shore up alliances as US standoff deepens

Erdogan’s overtures to Europe suggest he’s prepared to mend ties strained by past diplomatic clashes in an attempt to weather the US pressure.

Turkey moves to ward off financial crisis as US spat worsens

The nation’s banking regulator published new rules that have so far succeeded at lifting the lira off record lows.

Turkey court rejects new appeal to free detained US pastor

The court in the western city of Izmir ruled that Brunson, who faces 35 years in jail over terror and espionage charges, will remain under house arrest.

Top Indonesia fund manager sees more losses after US$27 billion rout

Turkey’s woes coupled with a wider-than-expected current-account deficit in Indonesia, has sent the Jakarta Composite Index down more than 5% in the past two days.

Rupee breaches 70 a dollar as Turkey rout complicates RBI’s job

Just when gains in consumer prices eased, the Turkish lira-led sell-off in emerging-market currencies has renewed an onslaught on the rupee, pushing it to a record low.

Top EU bank supervisor urges ‘bold action’ by Turkey to fix...

The Turkish lira has dropped more than 40% this year, making it the second worst global currency after Venezuela’s bolivar.

Ringgit lower against US dollar for second consecutive day

The dealer said an increase in oil prices would cushion any impact on the ringgit.