Flash Report /
Turkey

Turkish lira whipsaws as government intervenes

  • TRY whipsawed by >40% yesterday on anti-interest comments and lira support measures, ending the day up 24.1%

  • Measures prompted by domestic crisis of confidence in currency, contributing to the recent panicked selloff

  • Support will not be sustainable absent monetary tightening, which looks increasingly unlikely; retain Sell

Turkish lira whipsaws as government intervenes
Patrick Curran
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
21 December 2021
Published by