Turkey’s central bank cuts the lira’s required reserve ratio to zero

The interest rate applied to required reserves denominated in Turkish lira has been cut to zero by the Turkish central bank, according to reports published on Monday. The Central Bank of the Republic of Turkey (CBRT) has ended the practice of making additional interest payments on sums converted from foreign currency to lira by real … Read more

Foreign trade using the Turkish lira jumps almost 72% in the first quarter

While Western sanctions against Russia once again revealed the importance of trade with local currencies, Turkey’s foreign trade volume conducted in the Turkish lira has been on the rise, the data showed. Turkey’s trade in Turkish lira continued its upward trend over the past year, an Anadolu Agency (AA) report said on Thursday, citing data … Read more

Turkey’s foreign trade in local currency increases

While Western sanctions against Russia once again revealed the importance of trade with local currencies, Turkey’s foreign trade volume conducted in the Turkish lira has been on the rise, the data showed. Turkey’s trade in Turkish lira continued its upward trend over the past year, an Anadolu Agency (AA) report said on Thursday, citing data … Read more

Turkey’s inflation at 61% in March, beating estimates

Annual inflation in Turkey hit 61.14% in March, the country’s statistical authority said on Monday, hitting a new 20-year high. The figure was 54.4% in the previous month and 16.19% in March 2021, according to the Turkish Statistical Institute (TurkStat). The largest annual increase in prices last month was registered in transportation with 99.12%, followed … Read more

Turkey Central Bank Policy Review Liraization Approach: Governor

The liberalization of the financial system is the focus of the ongoing review of the Turkish central bank’s policy framework, its governor said on Tuesday. “The focus of all the applications to be put into operation will be to ensure the commercialization of the financial system to reshape price stability in a sustainable way,” Şahap … Read more