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Good morning from the newsroom of the Financial Times.

Today is Friday, the 29th of March, and this is your FT news briefing.

Coming up today, Turkey burns through a third of its foreign currency reserves in an effort to contain the weakness of the lira.

We'll get the low down from Ankara.

Swedbank starts to feel the heat over money laundering accusations,

firing the chief executive just minutes before its annual meeting.

Our correspondent has the details.

And German businesses Brace for No Deal Brexit.

I'm Daniel Winter and here's the news you need to start your day.

Turkey has scrambled to save the struggling lira. The country central banker

sold ten billion dollars worth of foreign currency. Investors saw that as

evidence of an effort to shore up the lira ahead of local elections this weekend. Although the drastic action has had some

success in stabilising the currency, it has caused turmoil in Turkish stocks and bonds,

and has harmed Turkey's credibility in the eyes of investors.

With more from Ankara our correspondent Laura Patel, so Laura what's happened to the Turkish

lira over the past week?

So the Turkish lira had a terrible day last Friday when it plunged as much as 6.5% on the day

as investors got spooked over a sudden drop in foreign currency reserves at the Central Bank,

as well as a host of other things such as concerns about global growth and also tensions

between the US and Turkey.

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