Lira

Capital movements affect Turkey like other countries: Minister

Turkey is affected by global capital movements as much as other countries, the finance minister said on Aug. 12, referring to the Turkish lira losing ground. 

"Turkey is affected much less than before from exchange rate volatilities," Berat Albayrak told CNN Turk.

Albayrak stressed Turkey is managing fluctuations in a controlled manner.

Turkish Central Bank boosts swap auction limit

The Turkish Central Bank on May 22 boosted its lira swap sale limits from 40% to 50%, according to banking sources.

The bank increased the limit of the swap auctions in the Turkish Lira Swap Market for Foreign Exchange, as per a directive it sent to lenders.

Thus, the banks' flexibility in Turkish lira and foreign currency liquidity management will have further increased.

Turkey bars 3 foreign banks from FX transactions

Turkey has blocked three foreign banks- BNP Paribas, Citibank, and UBS- from doing foreign exchange transactions with the Turkish lira, the nation's banking watchdog announced on May 7. 

These banks failed to complete their Turkish lira commitments and so defaulted, said Turkey's Banking Regulation and Supervision Agency (BRSA).

Steps to support economy reach $29 billion: Minister

The Turkish government's steps to support the economy in the face of the coronavirus pandemic have reached a value of 200 billion Turkish Liras ($28.7 billion), Finance Minister Berat Albayrak has said.

"The total value of the steps we have taken so far has reached 200 billion lira," Albayrak said in a video posted on his Twitter account on April 25.

Main opposition CHP says gov’t should print money only for pandemic

The government can print money, but it should be used only for the fight against the pandemic, Faik Öztrak, deputy chair and the spokesperson of the main opposition Republican People's Party (CHP), has said.

Öztrak also urged the government to prepare a new medium-term economic program to tackle the worsening economic conditions.

Turkish Treasury posts $3.8 bln cash surplus

The Turkish Treasury's cash balance posted a surplus of 22.8 billion Turkish liras ($3.84 billion) in January, the Treasury and Finance Ministry announced on Jan. 7.

Last month, the Treasury's cash revenues amounted to 119.95 billion Turkish liras ($20.2 billion), up 23 percent on a yearly basis, according to the ministry's data, released on Friday.

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