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Qatar grants USD10 billion to Turkey to ease Lira's collapse
(MENAFN)
The central bank of Turkey has obtained USD10 billion from a currency swap agreement it made with Qatar, the analytical balance sheet of the bank said on Friday.
According to the bank, it has made a deal with Qatar to raise their currency-swap agreement from USD5 billion to USD15 billion, which gives more foreign funding to support the shortage in the Turksih reserves and raise the Turkish lira.
Ankara had urgently appealed to China and Qatar over increasing the existing swap deals, as well to Britian and Japan about the probability of making such deals.
As the country ran down its hard currency buffers in the currnet year, it collected a group of 20 countries to be included in swap deals such as the ones the US has given to other emerging economies.
The central bank of Turkey has obtained USD10 billion from a currency swap agreement it made with Qatar, the analytical balance sheet of the bank said on Friday.
According to the bank, it has made a deal with Qatar to raise their currency-swap agreement from USD5 billion to USD15 billion, which gives more foreign funding to support the shortage in the Turksih reserves and raise the Turkish lira.
Ankara had urgently appealed to China and Qatar over increasing the existing swap deals, as well to Britian and Japan about the probability of making such deals.
As the country ran down its hard currency buffers in the currnet year, it collected a group of 20 countries to be included in swap deals such as the ones the US has given to other emerging economies.
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