Turkish lira woes reawaken

The Turkish lira has suffered heavy losses against the dollar, falling to its weakest level since October 2018 and shaking market participants’ confidence in the ability of the country's borrowers to access the market.

  • By Lewis McLellan
  • 25 Mar 2019

The lira fell from TL5.46 to TL5.83 to the dollar on March 22, but has since recovered to TL5.66, likely due to the Turkish central bank’s suspension of one week repo auctions.

After a currency crisis in August 2018, the Turkish central bank’s emergency rate hike returned the ...

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