S&P says Turkey faces serious forex risk: Report
ISTANBUL - Reuters
REUTERS photoRating 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.