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Turkish central bank adjusts reserve requirements to boost lira

ISTANBUL: Turkey's central bank lowered a foreign exchange maintenance facility within its so-called reserve options
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By Parvez JabriReuters
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ISTANBUL: Turkey's central bank lowered a foreign exchange maintenance facility within its so-called reserve options mechanism (ROM) to 30 percent, from 40 percent, to support financial stability, it said on Thursday.

The bank also said the FX maintenance facility within the ROM will provide $2.8 billion of FX liquidity to the market, while 7.2 billion lira will be withdrawn. The lira has fallen this week after authorities decided to re-run Istanbul elections.

Copyright Reuters, 2019

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