The Turkish Central Bank said on Saturday it raised reserve requirement ratios for FX deposits by 200 basis points across all maturities under changes
The Turkish Central Bank said on Saturday it raised reserve requirement ratios for FX deposits by 200 basis points across all maturities under changes to its macroprudential framework to support transition to the lira.
In a statement, the bank also said the minimum share of export proceeds to be sold to the Central Bank shall be 35% until July 31. The FX conversion support rate, which is applied to firms’ foreign currency conversions of export proceeds to the lira, has been raised to 3% until July 31.
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