ANKARA: Turkey will issue euro-denominated government bonds and lease certificates to resident and non-resident individual investors, the Turkish Treasury said on Tuesday.
It said in a statement that it would issue the securities, with a one-year maturity, starting Wednesday, in order to diversify borrowing instruments and to broaden investor base.
Turkey already issues euro-denominated bonds but, with around two-thirds of its sovereign debt in dollars, it has sought to reduce vulnerability to fluctuations against the US currency following a recent slump in the lira.
The lira has fallen around 40 percent so far this year, hitting a record low of 7.2 to the dollar in mid-August. It was trading on Tuesday at just under 6.5 per dollar.
Last month President Tayyip Erdogan said Ankara plans to issue yuan-denominated bonds for the first time, a move he said would overcome what he described as subjective judgments by Western ratings agencies on Turkey's economy.
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