empty
 
 

2019.05.2706:42:00UTC+00Turkey Central Bank Raises Forex Reserve Requirement

Turkey's central bank raised the reserve requirement of foreign currency lenders on Monday.

"Reserve requirement ratios for FX deposits/participation funds have been increased by 200 basis points for all maturity brackets to support financial stability," the bank said in a statement.

This move will withdraw about US$4.2 billion liquidity from the market, the bank added.

Earlier this month, the central bank had adjusted forex maintenance facility to support financial stability. The action was estimated to absorb around US$3 billion foreign exchange liquidity.

The bank had kept its key interest rate unchanged at 24 percent for five consecutive meetings. The previous change in the rate was a massive hike in September.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback