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  • 23-12-21

    Turkey’s Central Bank releases 1st issuance of currency

    (MENAFN) On Wednesday, the Turkish Central Bank issued the first issuance of exchange rates to be implemented as a base for FX-protected Turkish currency deposit accounts.

    Based on the bank data, the US dollar / Turkish lira trade rate was 12.35 for buying and 12.37 for selling, while the exchange rates amounted at 13.9 and 13.93 for the euro, in that order.

    On Monday, President Recep Tayyip Erdogan declared the fresh deposit account scheme as well as with other various fiscal procedures to protect the Turkish lira's worth against external currency fluctuations. After the declaration, the lira’s worth skyrocketed about 40 percent against external currencies.

    Evaluating the external currency rates at the start and at close of the maturity of resident real persons' accounts, the Central Bank is going to pay the difference, whichever is higher, to depositors.

    MENAFN23122021000045013568ID1103434913

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