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Turkish State Banks Resume Supporting Lira as Rout Deepens

(Bloomberg) Turkey’s state-run banks re-entered the foreign-currency market on Monday, selling as much as $1 billion by midday to prop up the lira, according to traders. Most Read from BloombergTesla and BYD Post Record Sales on Surge in Electric-Car DemandIt’s Getting a Lot Harder to Chase the Stock Rally From Here OnFrench Riots Begin to Abate Even as Economic Costs MountSingapore’s Star Banker Creates a Succession Dilemma for DBSAs the currency’s decline deepened after last week’s public h ....

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BBCNEWS Asia Business Report June 4, 2024 23:35:00

Focus continually going forward- focus continually going forward. , , ., ., focus continually going forward. ,, ., ., ., , forward. in less than two hours we will get forward. in less than two hours we will get that forward. in less than two hours we will get that latest - we will get that latest manufacturing data from china and we will have more analysis on asian business reports are due dates stay tuned for that. well, that slew of soft economic data has also hit china s currency the renmenbi. beijing recently took action against the sliding currency for the first in almost eight months. with state banks putting a floor under the yuan. the value of the yuan in china is tightly controlled by the government. but it s not the only country in asia that s seeing its currency slide the japanese yen too, is weakening. and investors are watching to see if authorities there will intervene. william pesek is a columnist and author focusing on economics in asia joined us earlier. he exp ....

China S , Business Reports , State Banks , William Pesek , On Economics In Asia , Bank Ofjapan , Great Expectations ,