Turkish central bank: Will continue to monitor markets, take all necessary measures

Dhwani Mehta FXStreet

Central Bank of the Republic of Turkey, Turkey’s central bank, came out with a statement on Monday, noting that the local banks will be provided all the liquidity they need, in light of the Lira’s free-fall.

Key Points:

Collateral deposit limits for lira transactions raised.

More than one repo auction may be conducted per day now.

Banks are to be able to borrow FX deposits in 1M maturity.

The central bank is to resume intermediary function at FX deposit market.

Banks' FX deposit limits may be raised.

Central bank to continue to monitor markets, take all necessary measures.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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