urkey’s central bank said it was ready to take “all necessary measures” to ensure financial stability after the collapse of the lira.
It has vowed to provide banks with “all the liquidity the banks need”.
The measures come after the Turkish lira hit record lows against the dollar amid a widening diplomatic spat with the United States.
Stock markets in Asia fell on Monday as investor concern over Turkey’s currency crisis mounted.
The slide worsened on Friday, when US President Donald Trump approved the doubling of tariffs on Turkish steel and aluminium – following Turkey’s refusal to free an American pastor who has been in detention in Turkey for nearly two years.
Turkey’s President Recep Tayyip Erdogan has vowed not to allow Turkey to be “brought to its knees” and has spoken of a plot against the country.
Source: BBC
