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The Turkish currency is depreciating against the US dollar, and the pound against the dollar is over seven pounds / dollar. At the same time Analysts estimate that the situation will worsen in the future for the neighboring country’s economy and leave open the possibility of imposing capital controls.
In particular, The exchange rate of the two currencies is at the level of 7 pounds / dollar, despite the efforts of Turkish leaders to support the national currency through interventions in the foreign exchange market.
Analysts Canadian TD values they believe that this trend will continue in the future, with an exchange rate of up to 8 pounds / dollar, while at the same time predicting that their central bank Turkey to completely deplete its net foreign exchange reserves this week and their total stocks up to the third week of September at best.
further Turkish banks may impose capital controls while analysts do not rule out the possibility of Turkey requesting international assistance from the International Monetary Fund or other central banks.
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