As the Turkish lira logged fresh record lows against both the dollar and the euro on Friday, and is now down 19% this year against the dollar, attention is turning once again to the potential risks facing lenders. They include a handful of very big Eurozone banks that are heavily exposed to Turkey s economy via large amounts in loans much of it in euros through banks they acquired in Turkey. And the strains are beginning to replay those of the last currency/financial crisis in 2018.
via wolfstreet.com
Fortunately, no Turkish lira.