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  • 26-09-20

    Turkey increases limitations of copied contact restrictions with foreigners

    (MENAFN) On Friday September 25 in a shift probable to please local markets, Turkey's banking regulator lifted the restrictions of currency swaps and other copied contracts that lenders execute with non-residents when getting and paying Turkish liras at the maturity meeting.

    Beneath the Banking Regulation and Supervision Agency (BRSA) shift, while banks purchase Turkish liras, the exchange boundary of Turkish banks has been increased as of 1 percent to 10 percent of their impartiality.

    The boundary of banks for selling liras was as well increased to 2 percent for contracts owing in seven days, to 5 percent for those unpaid in 30 days, and to 20 percent for those owing inside a year.

    Enver Erkan an economist at Istanbul-based private investment firm Tera Yatirim stated remarking on the move in a client reminder that foreign investors will greeting the positive real attention rate and reduction of Turkish lira contracts.

    MENAFN2609202000450000ID1100860313

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