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Turkish banks need to protect lira، says banking watchdog

Saturday 18/May/2019 - 01:53 PM
Lira
Lira
edited by: Basant Ahmed
All Turkish banks need to protect the country’s lira currency، which has been targeted recently by speculators، Turkey’s banking watchdog head Mehmet Ali Akben said on Friday، Reuters reported.

Speaking in Istanbul، Akben also said he expects banks to make an effort to turn deposits in foreign currencies into lira.

In the last six months، Turks have ramped up their holdings of dollars and euros، a so-called dollarisation trend that reflects a lack of faith in the lira and added to its recent weakness.

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