Turkish Central Bank raises reserve requirements for FX

Bank increases reserve requirement ratios for FX deposit funds by 100 basis points to support financial stability

By Tuba Sahin

ANKARA (AA) - The Central Bank of Turkey (CBRT) changed reserve requirement ratios to support financial stability on Monday.

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The bank expects nearly $2.1 billion of FX liquidity withdrawn from the market as a result of the move.

Kaynak:

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