DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Government Tweaks Tax Exemptions in Further Liraization Effort

TURKEY
  • In an article covering the renewed weakness in TRY, Cumhuriyet notes that returns from the government’s FX-protected deposit scheme KKM begin today and is estimated to create as much as $30bln across five weeks and could generate new FX demand.
  • Further policy tweaks have been made by government to lean further into Liraization, with the extension of corporate tax exemptions for both FX gains and interest income for firms that actively convert H1 FX reserves into TRY via the FX-protected deposit scheme. The Gazette announcement also confirms that these tax exemption thresholds could be rolled into Q3 this year.
  • The Istanbul-based center for coordinating the Ukraine grain export corridor officially opens today. Despite the formal opening ceremony, concerns linger over the prospects for the Ukrainian grain export corridor after strikes on Odessa this weekend, but a spokesman for Turkey’s Erdogan has claimed that exports could start within a week, and exports are seen totaling 25mln tonnes by the end of this year.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

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.