Tuesday, 19 October 2021 11:50 GMT

Turkish Bank increases requirement ratios by 200 basis points

(MENAFN)On Wednesday, Turkey’s Central Bank increased reserve requirement ratios for foreign currency and precious metal deposit accounts.

It raised the ratio by 200 basis points for all such accounts, and it reported the move in the Official Gazette.

The ratio stood at 23USD for foreign currency deposit accounts — demand, notice and up to one-year maturity — and 17 percent for foreign currency accounts with a maturity of one year or more.

The ratios amounted at 24 percent and 20 percent for precious metal deposit accounts with a maturity of up to one year or more than one year, respectively.

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