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USD/TRY On Course For Record Close

TRY
  • USD/TRY breaking higher, per Bloomberg prices, with last week's 18.20 giving way and putting USD/TRY at new 2022 highs. A close here would be a record high and comes despite further Liraization measures outlined late yesterday.
  • The CBRT again revised requirements for foreign currency holdings, with commercial banks now required to maintain a 10% conversion rate from FX accounts into TRY accounts.
  • Any commercial banks that fall short of these requirements will now have to park an additional 5 percentage points of FX at the CBRT. The regulations are effective as of September 16th.
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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