Turkey bans 54 foreign currency trading websites

Turkey’s market regulator banned 54 websites promoting foreign exchange trading in the country, Hürriyet newspaper reported.

The Capital Markets Board (SPK) has imposed the block after discovering that the websites do not operate in Turkey but are attempting to show that they do, Hürriyet said on Friday.

Turkey is taking the reported measure after the lira renewed losses against the dollar this week, falling more than 2 percent to the lowest level since August. The decision follows steps taken earlier this week by the authorities to curb the activities of local banks in the offshore lira-dollar swaps market, where investors sometimes short the lira.

The lira rose by 0.4 percent to 5.92 per dollar at 1 p.m. in Istanbul on Friday. Losses this year total over 10 percent.