Economics

Turkey Taps Forex From Services to Bolster Currency Reserves

Exchange rate information inside the Grand Bazaar in Istanbu/
Photographer: Moe Zoyari/Bloomberg

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By Inci Ozbek

April 16, 2022 at 9:17 AM UTC

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Turkey has added hard currency earned by the services sector to the list that must be exchanged with the central bank, in an effort to bolster the nation’s foreign exchange reserves.