The Trader 

Market Outlook: Emerging markets skid

The Trader

Both the Turkish lira and the Indian rupee hit their weakest ever levels against the US dollar today; other emerging currencies have tumbled over the last 10 days.  The central bank in Ankara today eased reserve requirements commercial banks must hold with it, freeing up something like $10 billion for them to use.  It also greatly increased the amount of money they can borrow against their foreign exchange holdings, Bloomberg reports.  Finance minister Berat Albayrak said today, ‘’from Monday onwards our institutions will take the necessary steps and will share the announcements with the market’’.  As I write this, we’re still waiting.

To continue reading, register today

to enjoy limited access to the following:

  • Daily trading news
  • Funds coverage
  • Features on big investment themes
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now