Turkish lira is losing ground again on Wednesday after gaining around 8% on Monday and Tuesday after the central bank limited liquidity in an attempt to prevent currency sell-off. As a result overnight rates soared above 1000% at one point today. However, investors fear that increased hostility towards foreign institutions ahead of local elections this Sunday could eventually cause adverse consequences. Other emerging markets are affected as well with USDZAR rising 1.6%, USDBRL 1.4% and USDMXN 0.9%.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
