ISTANBUL: The Turkish central bank said on Wednesday that foreign exchange deposit market interest rates applied to banks' one week maturity borrowings from the central bank were being reduced to support balanced growth and capital flows.
The rates applied to banks' one week maturity borrowings from the central bank as a last resort facility have been reduced from 10 percent to 7.5 percent for dollar and from 10 percent to 6.5 percent for euro as of Oct. 9, the central bank said on its website.
Banks have $10.8 billion transaction limits in the foreign exchange and banknotes markets, it said.
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