April 30, 2019 / 8:19 AM / 3 months ago

Turkish central bank governor says reserve fluctuations not abnormal

ISTANBUL, April 30 (Reuters) - Turkey’s Central Bank Governor Murat Cetinkaya said on Tuesday fluctuations in reserves were not abnormal and it is important to look at medium term trends when looking at reserve levels.

Presenting the bank’s quarterly inflation report, Cetinkaya said there was no deterioration in any parameter of reserve effectiveness.

He also said the bank knew the impact of swap transactions on reserves, and that the increase in swap transactions was carried out to support the market in the face of a market anomaly.

Reporting by Ezgi Erkoyun and Ali Kucukgocmen Writing by Dominic Evans

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