Central Bank takes step for financial stability

Dünya Executive - - OVERVIEW -

The Central Bank of Turkey (CBRT) increased reserve requiremen­t ratios for foreign exchange (FX) deposits to support financial stability. The rise came in 200 basis points, the Bank said in a written statement on May 27. “As a result of this, $4.2 billion of FX liquidity will be withdrawn from the market,” the CBRT added. The decision covers FX deposits and participat­ion funds for all maturity brackets. The Bank lowered the ratio two times in 2019, in February and May, respective­ly.

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