Turkiye central bank targets 50% lira deposits in banks in 2024

ISTANBUL: Turkiye central bank said on Friday it aims to increase the share of Turkish lira deposits to 50% in the banking system and to sustain the fall in the fx-protected deposit scheme in 2024.

In its annual monetary policy report, the central bank said that although it will continue to conduct swaps with banks, it plans to gradually reduce the amount of swap transactions next year.

Turkish central bank total reserves dropped to $98.5bn

The central bank also said the open market operations portfolio size will be 200 billion lira ($6.77 billion) for 2024, adding that it will continue to implement quantitative tightening and to take steps for simplification process.