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CBRT Talks Turkey with 4 Countries on FX Swaps, Eyes Reserve Requirement Ratio

TURKEY

LOCAL NEWS

  • CBRT Gov Kavcioglu says Turkey is in talks with 4 countries for currency swap agreements, 2 of which are close to a deal.
    • Comes after China agreed to expand its $2.4bn agreement to $6bn earlier this month. Kavcioglu fell short of saying which countries, but noted things were in a "very good place."
    • Also noted that the CBRT may consider tweaking the required reserves rule to boost TRY credibility
  • Pentagon says 'lot more work to be done' on Turkey's role in securing the Kabul airport. Pentagon Spox says the US is still working its way through the financial and logistical details of support for Turkey
  • EU executive Commission Head to propose shifting the bloc's financial aid for migrants in Turkey away from emergency humanitarian relief to long-term support.
    • Von der Leyen said the agreement with Turkey would be discussed at the EU leaders Summit on Thursday
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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