Turkey enforces stricter controls in effort to strengthen lira

clock • 1 min read

The Turkish government is planning to significantly increase penalties for manipulating the Turkish lira, according to reports. The punishments, which will be extended to anyone found guilty of manipulating the price of financial securities or benefiting from information illegally obtained will include a minimum prison term of three years. The lira gained slightly on the news this morning, nudging up by 0.4% against the dollar to TL5.98.  Today's move follows a previous set of reforms in 2018 that sought to tighten regulation around currency trading with the aim of preventing a rep...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.