Turkey Changes Reserve Rules to Boost Banks' Dollar Liquidity
- Central bank announces changes after lira falls to new low
- Analysts say the measure is too little to support the currency
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Turkey’s central bank modified its reserves rules to free up commercial lenders’ foreign-exchange in an attempt to support the sinking currency. The lira trimmed losses.
The bank said it was lowering the maximum amount of foreign currency lenders can park at the regulator as part of their required reserves. The move will provide them with an additional $2.2 billion, it said.