Turkey continues to large banks under pressure, trading with Turkish Lira limit, the SWR have research revealed. From the internal Mail traffic of the Department for international companies, a data Bank, which is the SWR-exclusive, it is apparent that the staff be instructed, for certain money transfers from Turkey to abroad, the approval of the Turkish banking supervision.
Turkish financial supervision initially had a ban on the trade of Lira imposed
the so-Called financial transactions, such as forward contracts and currency Swaps are no longer permitted until further notice basically. The employee should inform their customers exclusively orally. In the Mail it literally means: “This Info is only for you. It is not permitted to give the customer something in writing“. And further: “The Turkish national Bank has pledged certain cash transfers from Turkey to abroad.” Euro / Turkish Lira (EUR/TRY) 7,4194 TRY -0,0106 (-0,14%) Had OTC
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The Turkish financial supervision of BDDK on 7. May a ban on the trade of Lira for each of the three major banks, USB, Citigroup, and BNP Paribas imposed, however, that this 11. Mail picked up again, after this step was met with criticism.
“poison for the relations between Germany and Turkey,”
Timothy Ash, a leading London-based Analyst of the Turkish financial market at BlueBay asset management, a rating of the internal Write to the Bank, which is the SWR, as a test, now secretly such restrictions to enforce: “The Turkish authorities deny their intention of capital controls, but many see these different restrictions than soft versions of the same controls.”
Lisa Paus, financial policy spokesperson of B’90/the Greens in the Bundestag, told the radio: “The protectionist and authoritarian way is poison for the economic relations between Germany and Turkey”. Now, the affected futures and “- Currency Swaps” are also necessary tools for entrepreneurs, against the risks. You will experience Beate Sander live!
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“futures transactions are hedging transactions,” says Paus, and adds: “We have to do it with the Paradox that the Turkish government must do everything to prevent currency speculation and to keep it at the same time investors. But if investors can’t be sure that they can compensate for their currency losses on such instruments, then the will pull the first back.“
For the foreign policy speaker of the SPD, Nils Schmid, the financial controls of the Turkey an act of desperation. “And it is another sign of the incompetent and lack of transparency in Turkey’s financial policy.” This is to prevent especially also in the interest of Germany and Europe, the collapse of Turkey. However, support should be unconditional. Stock market millionaire Beate Sander: This is my strategy in the Corona Crash FOCUS Online stock market millionaire Beate Sander: This is my strategy in the Corona Crash
More on the Lira:
- The corona crisis, brought cash again for a Boom – it is the last should be
- Lira-swash and Corona-Trouble – Erdogan is under double pressure
- Lira as cheap as never: The “perfect storm” is raging again about the currency
Thunderstorms and drop in temperature: the change in the weather PCP Thunderstorms and drop in temperature comes: Now the change in the weather comes/p>/SWR
