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Turkish central bank raises forex reserve requirement ratios by 100 basis points

Fri, 20th Sep 2019 17:31

ISTANBUL, Sept 20 (Reuters) - Turkey's central bank said on Friday it raised the reserve requirement ratios for forex deposits and participation funds by 100 basis points for all maturity brackets to support financial stability.

It said in a statement that the move would result in the withdrawal of approximately $2.1 billion of forex liquidity from the market. The revised ratios will be effective from the calculation period of 20 Sept. 2019 with the maintenance period starting on 4 Oct. 2019, the bank said. (Reporting by Ece Toksabay; Writing by Ali Kucukgocmen Editing by Chizu Nomiyama)

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