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CBRT Presenting New Tools for Liraization

TURKEY
  • Wires give further coverage of yesterday’s move by the Turkish central bank to shore up Liraization, with BBG flagging that the central bank are attempting to arrest the decline in the TRY by floating cheaper and longer TRY loans to exporters if they pledge to selling FX via their export revenues.
  • Elsewhere, Hurriyet reports that Turkey have begun the laying of an underwater pipeline to tap natural gas in the Black Sea – a move that is seen weaning Turkey off expensive foreign energy imports. The gas field could be online by Q1 2023.
  • Reuters cite a Turkish central bank document as saying that any fixed rate bonds held by banks for foreign currency deposits must be of a minimum five year maturity.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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