Turkish central bank hikes a reserve requirement on forex deposits


ANKARA, May 27 (Reuters) - Turkey's central bank increased the reserve requirement ratios for forex deposits and participation funds by 200 basis points for all maturity brackets, in a move to support financial stability, it said on Monday.

The bank said the measure, which gave a bit of support to the Turkish lira, would withdraw $4.2 billion of forex liquidity from the market.

(Reporting by Tuvan Gumrukcu and Ece Toksabay; editing by Jonathan Spicer)

((ece.toksabay@tr.com; +90 312 2927022; Reuters Messaging: ece.toksabay.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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