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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessGovernment Could Force More FX Conversions From Exporters
- According to a draft bill posted yesterday, Turkey could up the rate at which exporters are forced to convert their hard currency stores into TRY to 40%, from the current level of 25%.
- The move would be targeting a boost in FX reserves for the country, and the CBRT governor is said to have discussed the change with members of the Turkish Exporters Assembly on Tuesday. A change to the measure would require full Treasury and Finance Ministry approval, but would be unlikely to meet any internal resistance.
- In his Presidential Cabinet meeting yesterday, Erdogan stated that Turkey is progressing on its path to becoming a logistics ‘super power’, and stressing the importance of the country’s master plan, which entails the $172bln of investment across five main transport and logistics sectors between 2003 and 2021, according to Hurriyet.
- In a bid to contain meat and food prices, the Turkish government are to pay TRY 2,500 per cattle for the rest of April, as food prices remain a focus during Ramadan.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.