Turkish Central Bank raises reserve requirements for FX

Turkish Central Bank raises reserve requirements for FX

ANKARA-Anadolu Agenc

The Central Bank of Turkey (CBRT) changed reserve requirement ratios to support financial stability on Aug. 5.

"Reserve requirement ratios for FX deposits/participation funds have been increased by 100 basis points for all maturity brackets, and the remuneration rate for US dollar-denominated required reserves, reserve options and free reserves held at the CBRT has been decreased by 100 basis points and set as 1%," it said in a statement.

The bank expects nearly $2.1 billion of FX liquidity withdrawn from the market as a result of the move.

LATEST NEWS

  1. Cultural heritage restored at Mother of Pearl Lab

  2. Ancient Middle Kingdom Egyptian tomb unearthed in Luxor

  3. Türkiye’s railway network to surpass 14,000 kilometers in 2025

  4. Turkish Airlines posts $2.7 billion profit in first 9 months

  5. UK gov’t raises English tuition fees for first time in 8 years
Recommended

Turkish Airlines posts $2.7 billion profit in first 9 months

UK gov’t raises English tuition fees for first time in 8 years

China's premier 'fully confident' of hitting growth targets

Boeing workers accept offer, ending over 7-week strike

Azerbaijan says 'God-given' oil and gas will help it go green

Defense industry’s exports top $5.1 billion in 10 months

Over 1.5 million Britons visit tourism hotspot Antalya
WORLD

North Korea fires short-range ballistic missile salvo

North Korea fired a salvo of short-range ballistic missiles early Tuesday, Seoul's military reported, marking Pyongyang's second launch in days and occurring just hours before Americans vote for a new president.
ECONOMY

Turkish Airlines posts $2.7 billion profit in first 9 months

The flag carrier Turkish Airlines reported a net income of $2.7 billion for the first nine months of 2024, down 2.7 percent from the same period of last year.
SPORTS

UEFA moves Beşiktaş – Maccabi Tel Aviv match from Istanbul: Report

UEFA has decided to relocate the match between Turkish club Beşiktaş and Israeli team Maccabi Tel Aviv, which was originally slated to take place in Istanbul on Nov. 28, local media reported on Nov. 4.