Market News

USD/TRY: Turkish lira drops to 7.8915 after CBRT revises banks’ reserve requirements

single-image
img-ads

The Turkish central bank, the CBRT, revised banks’ reserve ratio requirements, the Official Gazette confirmed on Friday.

The new policies will take impact on Dec. 11, in accordance to the Gazette.

Key details
“The CBRT lifts rule linking banks’ reserve ratio necessities to their credit score boom level.”

“The required reserve ratio for lira deposits with a maturity of up to three months used to be set at 6%, these up to 6 months at 4%, these much less than a yr at 2% and 1% for maturities of one 12 months or longer.“

“For overseas currencies, the ratio for deposits with a maturity of much less than a 12 months was once set at 19% and at 13% for maturities of one 12 months or longer.”

img-ads

Leave a Comment

Your email address will not be published.

You may also like