Economy
Turkish cbank to get commission on FX required reserves
Move aims to support reverse dollarization process in deposit/participation funds, according to informed sources
Murat Birinci |
03.01.2020 - Update : 03.01.2020
ISTANBUL
The Central Bank of Turkish Republic (CBRT) will apply commission implementation on FX required reserves, according to informed sources.
The CBRT decided to implement a commission on the required reserve and notice-foreign exchange deposit accounts with the bank, said the sources.
The move aims to support the reverse dollarization process in deposit/participation funds.
The annual commission rate on U.S. dollar-denominated deposits/participation funds will be 0.025%.
The new practice will begin as of Jan. 10, according to the sources.
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