Arab Today, arab today turkey lowers forex reserve requirement ratios
Last Updated : GMT 21:00:32
Arab Today, arab today
Arab Today, arab today

Turkey lowers forex reserve requirement ratios

Arab Today, arab today

Arab Today, arab today Turkey lowers forex reserve requirement ratios

Istanbul - Arabstoday

The Turkish Central Bank (CB) said on Friday it was lowering the reserve requirement ratios (RRR) on foreign exchange deposits by 0.5 per centage points in a move supplying $930 million in additional liquidity to the market. The weighted average of foreign exchange RRRs will fall to 11 per cent, the central bank said.The latest measure came after the central bank surprised markets on Thursday by cutting its policy rate to an all-time low to bolster the economy while also acting to support the ailing lira. After the latest move on reserve requirements, the benchmark bond yield fell to 8.43 per cent from 8.52 per cent, while the lira firmed to 1.7350 against the dollar from around 1.74 beforehand.“It is clear that the Central Bank is trying to take the steam out of the forex market,” said BGC Partners chief economist Ozgur Altug.“After this decision, market players will follow the daily forex selling auction amount,” he said. The main share index was down 3.3 per cent, reflecting declines in foreign markets. At an emergency monetary policy committee meeting the bank cut its one-week repo rate to 5.75 per cent from 6.25 per cent, but sought to offset any negative impact on the lira by raising its overnight borrowing rate to 5 per cent from 1.5 per cent and starting foreign exchange selling auctions. The currency fell sharply, however, as markets mindful of inflationary pressures in Turkey’s fast-growing economy struggled to digest a raft of new policy moves and analysts complained that there was a lack of clear communication from policy makers. Monetary policy moves Turkey announced on Thursday aimed to minimise the impact of global economic risks, its central bank said, adding it saw no reason for the lira to fall further. As the domestic currency extended declines from on Thursday that were driven by a surprise cut in the bank’s main policy rate, central bank governor Erdem Basci said he also expected Turkey’s large current account deficit to narrow rapidly over the rest of the year. In a statement, Basci also said inflation appeared to be dipping closer to the bank’s year-end target of 5.5 per cent, and that it might increase the amounts of hard currency sold at forex auctions and further reduce banks’ required reserve ratios. From / Gulf Today

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkey lowers forex reserve requirement ratios Arab Today, arab today turkey lowers forex reserve requirement ratios

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkey lowers forex reserve requirement ratios Arab Today, arab today turkey lowers forex reserve requirement ratios

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday