Turkiye to withdraw up to 1 trillion lira of liquidity with required reserves change

ANKARA: Turkiye will withdraw around 1 trillion lira of liquidity from markets with a recent change in required reserves for FX-protected lira and other deposit accounts, according to calculations by two bankers on Thursday.

Turkish lira at record low near 19 to the dollar

The Turkiye central bank increased required reserves for FX-protected lira deposits by 5 percentage points, according to the country’s official gazette.