Turkey to increase daily foreign exchange buying auction

The Turkish Central Bank is set to increase daily foreign exchange buying auction from $40 million to $50 million next year, the bank's governor, Yilmaz said.

Turkey to increase daily foreign exchange buying auction

The Turkish Central Bank is set to increase daily foreign exchange buying auction from $40 million to $50 million next year, the bank's governor, Durmus Yilmaz, said on Tuesday.

Appearing in a press meeting on Tuesday discussing the Turkish Central Bank's monetary and currency policy for 2011, Yilmaz said the bank might also announce extra foreign currency buying auction in addition to its regular schedule set to be implemented by January 3, 2011.

Yilmaz said the increase in buying auction was aimed at maintaining regular build up of foreign currency reserves in the absence of options rights for banks, which he said would no longer be available next year.

Foreign exchange buying auctions with a daily auction amount of $40 million with an optional amount of $40 million was set by the bank on November 1, 2010.


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Last Mod: 21 Aralık 2010, 14:19
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