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Turkey bans dealers from trading with BNP, Citi and UBS
Lira rallied after action, but respite for currency may be brief
![Turkish lira falls Turkish lira falls](/sites/default/files/styles/landscape_750_463/public/article_copied_files/turkish-lira-falls.jpg.webp?itok=-wC4ppMc)
The Turkish banking authority has banned local banks from trading the Turkish lira with BNP Paribas, Citi and UBS, as the country’s currency hit an all-time low.
In its announcement, the Banking Regulation and Supervisory Agency (BRSA) stated that the three dealers “did not meet their Turkish lira liabilities against [local] banks in due time” and said its actions were aiming at preventing “transactions and practices that may jeopardise… the credit system”.
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