Economics
Turkey Central Bank Raises Foreign-Currency Reserve Requirements
International currency exchange rates stand on display outside a bureau in the Grand Bazaar in Istanbul.
Photographer: Ismail Ferdous/BloombergThis article is for subscribers only.
Turkey’s central bank took another step to boost its coffers by raising the amount of foreign currency lenders are required to park at the regulator as reserves.
The monetary authority increased reserve requirements for foreign-exchange deposits by 200 basis points, according to a statement on Monday. The measures will withdraw around $4.2 billion of liquidity from the market, it said.