(Bloomberg) Turkey’s central bank took another step to boost its coffers by raising the amount of foreign currency lenders are required to park at
(Bloomberg) Turkey’s central bank took another step to boost its coffers by raising the amount of foreign currency lenders are required to park at the regulator as reserves.
The monetary authority increased reserve requirements […] to Stop the Rot and Defend the Lira
Data last week showed that Turkey’s net international reserves ped to the lowest level since October as concerns linger that the central bank is trying to prop up the lira before elections next month. It’s unnerved investors by failing to give a clear explanation on what’s behind the recent moves in its reserves. The central bank also introduced a new swap on May 9 that will allow it to bolster its international reserves by borrowing gold commercial lenders.
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