The Turkish central bank on Monday cut the mandatory reserve ratio on bank deposits of foreign exchange also suspended the daily purchase of about $ 30 million and to reduce the depreciation of the lira.
Where the reduction of reserves on foreign currency deposits for a period of one year to 10% from 11%, the percentage of reserves up to three years Vtm reduced to 10% from 11.5%, while the reduction of reserves on deposits in foreign currency for more than three years to 9% instead of 11%.
It is expected to contribute to the move to add $ 590 million of liquidity into the banking system as of the fifth of August / August.
The Turkish lira fell against the dollar by 0.6% to the 1.7075 level at about twelve o'clock and nine minutes after ten pm Istanbul time, having lost in earlier trading 2.2%.