Turkey Asks Banks to Slow Dollar Purchases Until Next Week
- Central bank tells lenders to taper unnecessary FX demand
- Instructions intended to cool firms’ year-end rush for dollars
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Turkey’s central bank asked commercial lenders to refrain from carrying out large dollar purchases on behalf of their corporate clients until Monday, according to people familiar with the matter.
Regulators are trying to ease the pressure from firms’ efforts to accumulate foreign currency at the end of the year, the people said on Wednesday, asking not to be identified because the information isn’t public. The central bank declined to comment.