ISTANBUL: Turkey's central bank said on Tuesday its latest amendments to required reserves will raise lira-denominated required reserves by some 7.4 billion lira ($764 million), and foreign currency required reserves by some $3.8 billion.
The country's Official Gazette announced overnight that the bank had raised the reserve requirement ratios for forex deposits by 200 basis points for all maturity brackets.
The bank also said the upper limit of the facility for holding standard gold for lira reserve requirements was lowered to 10% from 15%.
"This facility will be gradually decreased and terminated," the bank added.
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