[ad_1]
BBVA it fell 2.48% and this Monday was unmarked as one of the worst values of the Ibex 35. The bank was dragged by the collapse to the lows of the Turkish lira, a country in which it enjoys particularly high exposure.
The Turkish lira has lost 26% of its value against the US dollar since the beginning of the year. It currently trades at eight dollars, an unprecedented low in the Ottoman country’s currency.
Its pairing with the euro is also at its worst and the lira is currently trading at 9.52 against the euro zone currency. The fall of the lira is part of the action of the country’s central bank, which disappointed the markets by refusing to raise interest rates.
The central bank’s action comes at the worst time for Turkey, which already has some tensions in its relations with NATO and its allies, such as France, Greece and the United States. The country’s president, Tayyip Erdogan, angered the Gauls this weekend by suggesting that his French counterpart, Emmanuel Macron, should go to the psychologist. France immediately responded to what it considers an “unacceptable” attitude by withdrawing its ambassador to Ankara from the country.
.
[ad_2]
Source link
