Türkiye's 5-year credit default swaps at 4-year low

By Burhan Sansarlioglu

ISTANBUL (AA) — In a positive sign, Türkiye's five-year credit default swaps (CDS) dipped to a low of over four years on Thursday.

Türkiye's CDS — a form of insurance for bondholders — fell to 276 basis points, its lowest level since February 2020.

Analysts said reports that Türkiye was taking steps to ease restrictions on offshore currency swaps drove the decrease.

They also highlighted efforts by the country's economic management to quell uncertainty, saying these spurred international interest in Turkish lira assets.