Nigeria’s Central Bank: We Didn’t Ban Crypto Trading – Yahoo Finance

Nigeria’s Central Bank: We Didn’t Ban Crypto Trading – Yahoo Finance

Bloomberg

Turkish Markets Slide as Agbal’s Exit Stokes Lira Turmoil

(Bloomberg) — Turkey’s stocks, bonds and the lira tumbled as the shock dismissal of the central bank chief triggered concern the country is headed for a fresh bout of currency turbulence.In one of the sharpest selloffs in years, the Borsa Istanbul Index lost more than 9%, triggering circuit breakers that halted trading. The lira also weakened more than 9%, while yields on Turkish local and dollar bonds soared.Investors also sold shares of European banks with ties to Turkey. Spain’s Banco Bilbao Vizcaya Argentaria SA, which owns about half of lender Garanti, sank over 7%.The turmoil underscores concern that President Recep Tayyip Erdogan’s removal of Naci Agbal after just four months as governor marks an end to a period of policy orthodoxy that had briefly restored the lira’s fortunes after a 20% retreat last year. Agbal’s successor, Sahap Kavcioglu, a columnist and university professor, has been a critic of the recent interest-rate increases enacted under Agbal’s stewardship, including last week’s larger-than-expected hike.“The replacement of the CBRT governor is a major blow to investor confidence in Turkey,” wrote Adam Cole, chief currency strategist at RBC Capital Markets. “Not surprisingly, geographical proximity leaves Europe most exposed.”BBVA $60 Billion Turkish Assets a Focus; ING, BNP Exposure SmallThe lira’s decline puts it within a few percentage
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