Turkey's Lira plunges to its lowest level in history
Lira, Turkey’s national currency hits the lowest level in history against the US Dollar as Turkish banking regulator imposes new restrictions on foreigners making lira-denominated transactions in an effort to prevent speculation and short-selling. Lira fell as low as 7.49 against USD, and has been under pressure due to rising inflation, slow economic growth, and high unemployment numbers. Turkey now has the highest number of coronavirus cases in the region
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Qatar making an effort to save the Turkish economy
Turkish central bank announced on Wednesday that it has tripled its currency swap agreement with Qatar, securing much-needed funding as the country facing a widening fiscal deficit and potential full-year recession. The move amended the original limit of $5 billion on the two countries’ initial swap agreement in 2018, raising it to $15 billion. The Turkish lira dropped to the lowest level on record against USD earlier this month
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CNBC
$400 million in Ripple tokens linked to criminal activity
Elliptic, a London-based company supplying risk management systems for the cryptocurrency market, has stated that 400 million USD in XRP tokens, the currency used in the Ripple payment network, are believed to be connected to illegal transactions. XRP currently has a market capitalization of 10.98 billion USD, and therefore the total number of illegal transactions represent less than 0.2 percent of the total transactions using XRP.
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Reuters