Ankara-Sana
The Turkish lira fell to its lowest level in about 17 months today, and the short-selling of all Turkish shares was banned for a day due to investor concerns about the policies of Turkish President Recep Tayyip Erdogan.
Reuters reported that the dollar rose against the Turkish lira to 6.2475 pounds, compared with yesterday's closing price of 6.2080 pounds, down 0.65 percent, bringing its losses since the beginning of this year to about five percent.
To that, the Council of Capital Markets in Turkey announced the ban of short selling of all shares listed on the Istanbul Stock Exchange, a step that the Council used to take during the past two years in times of high volatility.
The Turkish currency has lost more than 3.5 percent of its value this year after it tumbled nearly forty percent during the past two years as a result of high levels of foreign debt to Turkey in light of the economic policies of Erdogan's reckless regime.
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