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Turkish Central Bank: max $3.9bn of lira reserves may be held in forex

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By Syed Murtaza Gheblehzadeh
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turkey-central-bankISTANBUL: The Turkish central bank said on Monday a maximum $3.9 billion of lira reserves may be held in forex during the period until September 30 and added that gold deposits would be included in reserve requirements.

The bank said an amount of $685 million should be held for gold deposits from Oct 14.

The bank also said the amount announced for the daily forex selling auction would be the maximum volume and the bank could opt to sell less than the amount announced.

Copyright Reuters, 2011

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