Turkey's Mystery Outflows Hit Near $10 Billion in Election Month yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Turkey is making it costlier for banks to offer short-term deposits that make up the bulk of a $124 billion government-backed lira savings program, a tightening of policy that will soak up billions in liquidity and attempts to discourage people from shifting into dollars. Most Read from BloombergCaesars Entertainment Paid Millions to Hackers in AttackCiti Plans Job Cuts as It Revamps Top Management StructureChina Sows Fresh Confusion About Apple With Security RemarksLuxury Cruise
Turkish bank shares drop after cenbank begins rolling back lira protection scheme reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Lira Lifesaver Became $124 Billion Gamble That Now Haunts Turkey bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) As the lira was approaching a decade of continuous losses, Turkish policymakers hit on an idea that promised a quick fix, and it helped stave off another currency crisis.Most Read from BloombergBorrowers With $39 Billion in Student Loans Finally See ReliefBond Bulls at JPMorgan, Allianz Keep Piling Into a Bet Gone BadPutin Turns to Ruble and Ballot to Shore Up Shaken AuthorityCargill Tests 123-Foot-Tall Sails in Effort to Slash Fuel BurnBut nearly two years on, a government-backed