Free Trial

USD/TRY On Course For Record Close

TRY
  • USD/TRY breaking higher, per Bloomberg prices, with last week's 18.20 giving way and putting USD/TRY at new 2022 highs. A close here would be a record high and comes despite further Liraization measures outlined late yesterday.
  • The CBRT again revised requirements for foreign currency holdings, with commercial banks now required to maintain a 10% conversion rate from FX accounts into TRY accounts.
  • Any commercial banks that fall short of these requirements will now have to park an additional 5 percentage points of FX at the CBRT. The regulations are effective as of September 16th.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.