Turkish Lira Has Effectively Become Untradeable, Bluebay's Riley Says

The video discusses the depreciation of the Turkish lira by 4.2% against the dollar, exploring potential causes such as market mechanisms, US sanctions, and anticipated rating cuts. It highlights the challenges faced by Turkish banks in rolling over short-term liabilities and considers possible solutions, including higher interest rates, tighter fiscal policies, and seeking IMF assistance. The discussion emphasizes the need for Turkey to import credibility and the potential political implications of these strategies.

What role do international investors play in the current situation of the Turkish lira?

What potential actions might Turkey take if capital controls are not effective?