December 28, 2019 / 6:53 AM / a month ago

Turkish cenbank increases required reserves for forex deposits

ANKARA, Dec 28 (Reuters) - The Turkish central bank said on Saturday it increased reserve requirement ratios for foreign exchange deposits by 200 basis points for all maturity brackets to support financial stability.

“As a result of these revisions, approximately $2.9 billion of forex liquidity will be withdrawn from the market,” it said in a statement.

The revised ratios will be effective immediately, it said. (Writing by Ece Toksabay Editing by Robert Birsel)

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