Turkey hikes required reserves ratio for FX-protected lira deposits
The Turkish central bank hiked required reserves for FX-protected lira deposits by 5 percentage points, according to a decision published in the Official Gazette early on Thursday.
Abone Ol
The central bank increased the required reserves for FX-protected lira deposits with maturities of up to six months to 30% from 25%, the gazette showed.
The required reserves ratio was increased to 10% from 5% earlier for accounts with maturities of up to one year, the gazette also showed.
The central bank introduced required reserves for all FX-protected lira deposits in July.
Separately, it also raised the required reserves ratio for foreign currency deposits by 1 percentage point for different maturity brackets.
