The Turkish lira rallied as much as 6% against the dollar on Monday after Turkey moved to restrict lira lending to many companies with more than $1 million in foreign currency cash in the latest step to reverse a slide in the currency. The lira stood at 16.099, as of 0531 GMT, having strengthened as far as 16.03 from a close of 16.99 on Friday. After most local markets had closed for the week on Friday, the BDDK banking watchdog said if companies had more than 15 million lira ($908,000) of forex cash assets, and they exceed 10% of total assets or annual revenues, they will not be allowed to receive new lira loans. ... (full story)