Turkish Central Bank raises reserve requirement ratios
TURKEY ECONOMY

Turkish Central Bank raises reserve requirement ratios

Bank revises reserve requirement ratios for all foreign currency and precious metal deposit accounts

News Service AA

The Turkish Central Bank raised reserve requirement ratios for foreign currency and precious metal deposit accounts Wednesday.

Announcing the move in the Official Gazette, it increased the ratio by 200 basis points for all such accounts.

Following the decision, the ratio reached 23% for foreign currency deposit accounts — demand, notice and up to one-year maturity — and 17% for foreign currency accounts with a maturity of one year or more.

The ratios became 24% and 20% for precious metal deposit accounts with a maturity of up to one year or more than one year, respectively.

The ratio for borrower funds of investment banks also reached 23%.

The new ratios will become valid as of Friday.

+

Cookies are used limited to the purposes in th e Personal Data Protection Law No.6698 and in accordance with the legislation. For detailed information, you can review our cookie policy.