Latest news with #TurkeyCentralBank
Bloomberg
13-06-2025
- Business
- Bloomberg
China, Turkey Renew Currency Swap Deal Worth Almost $5 Billion
Turkey and China have renewed a currency swap agreement, allowing their central banks to exchange as much as 189 billion liras ($4.8 billion) or 35 billion yuan over the next three years. The deal, which could be extended further, aims to facilitate trade settlements in local currencies and strengthen financial cooperation, Turkey's central bank said in a statement on Friday.
Bloomberg
24-05-2025
- Business
- Bloomberg
Turkish Central Bank Tightens Screws on Cheap Lira Window Abroad
Turkey's central bank raised the reserve requirement ratios on banks' short term liabilities abroad in a bid to discourage local banks from seeking cheap lira from offshore markets. The bank early Saturday raised the reserve requirement ratio to 18% for maturities as long as 1 month in lira-denominated funds from repo transactions and loans obtained from abroad, and to 14% for maturities as long as 3 months. Previously, the reserve requirement ratio was 12% for maturities of as long as 1 year for repo transactions and loans abroad.
