Turkey's Capital Markets Board (SPK) on Wednesday imposed a regulation on leverage ratios to curb potential volatility in Forex (FX) markets until next Monday.
The Board's move comes right before the Qurban Bayram (or Eid al-Adha in Arabic), after which trading will start in FX markets.
"Realizing hedge trading with the same ratios and not affecting existing customers with open positions, the ratio for positions held before Aug. 16, 2018, and hedging of these positions, one leg of which is the Turkish lira, has been set to 1:1," a statement from SPK said.
The statement added that as the markets in Turkey will stay closed during Qurban Bayram, investors should refrain from speculative positioning in the FX markets and Borsa Istanbul's Futures and Options Exchange.
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