Turkey May Lift Ban on BNP, Citi and UBS Trading Currency
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Turkey signaled it may reverse a ban on trading liras with BNP Paribas SA, Citigroup Inc. and UBS Group AG, potentially stepping back from measures imposed last week after the currency’s slide to a record low.
The ban may be lifted if the three banks meet local-currency obligations to Turkish lenders, Mehmet Ali Akben, the head of the banking regulator known as BDDK, told the state-run Anadolu Agency on Sunday. Restricting foreign investors’ access to lira liquidity makes it difficult for them to bet against the currency.