S&P says Turkey faces serious forex risk: Report

January 12 2017 17:49:00

S&P says Turkey faces serious forex risk: Report

ISTANBUL - Reuters

REUTERS photo

Rating agency Standard & Poor’s said on Jan. 11 that Turkey faces a serious foreign exchange rate risk after the lira currency hit a series of record lows, according to Turkey’s Bloomberg HT television station.

S&P said full independence of the central bank was the most important issue, and that Turkish banks remained well-protected against the forex rate risk, according to the television station.

The ratings agency is next due to make an assessment on Turkey on May 5.

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