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Erdogan Could Seek Currency Swap Deal With MBS

TURKEY
  • Bloomberg report that Turkey are seeking a currency swap deal with Saudi Arabia.
  • Recall today Erdogan is due to meet with the Saudi crown prince bin Salman in Ankara – another step forward in the normalisation of relations between the two countries. The meeting is due to begin at 4.30pm local time (1430BST / 0930ET). Erdogan has said that the talks would focus on advancing Turkish-Saudi relations to a “much higher degree.”
  • On CCY swaps, earlier this year the CBRT established swap lines with the CBs of South Korea, Qatar and China.

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