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CB Asks Lenders to Limit Non-Urgent Dollar Sales

TURKEY
  • Bloomberg report that the CBRT has asked lenders to limit dollar sales to companies that don’t have urgent payments and to prioritise meeting demand from special government-backed lira deposits, according to people with direct knowledge of the matter.
  • The monetary authority made the requests verbally on Tuesday, the people said who asked not to be named because the demands weren’t public. The central bank declined to comment.
  • This follows reports last month that some lenders were warned that they had been assigned a daily limit on how much foreign currency they should buy on the interbank market beyond their needs.
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