• Turkish central bank to offer unlimited liquidity

Market news

18 July 2016

Turkish central bank to offer unlimited liquidity

"The Central Bank will provide banks with needed liquidity without limits," the CB said on its website. "The commission rate for the Intraday Liquidity Facility will be zero. "The CB said that banks would be allowed to place foreign exchange deposit as collateral without limits for needed Turkish lira liquidity. The move came after the dollar rose against the lira to its highest level in recent months on Friday night after the attempted coup, with the dollar reaching 3.05 Turkish liras, an increase of 5 percent. The bank emphasized that all measures would be taken to ensure financial stability "if deemed necessary.""Market depth and prices will be closely monitored," the bank said. The Central Bank added that it would increase the daily foreign exchange auction from the current $50 million if needed.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.