October 31, 2019 / 8:37 AM / 18 days ago

Turkish central bank has leaned more on swaps recently -chief

ISTANBUL, Oct 31 (Reuters) - Turkey’s central bank chief said on Thursday it has recently used swaps more often than usual to fund the country’s state banks, which he said have been more active in markets conducting two-way transactions.

Governor Murat Uysal, at a press conference, added that there has been no change to the central bank’s strategy to boost its reserves.

Since Turkey launched a military incursion into northeastern Syria in early October, traders have said that state banks have sold dollars at certain times to cushion a depreciation in the Turkish lira.

Reporting by Ezgi Erkoyun and Ali Kucukgocmen; Writing by Jonathan Spicer; Editing by Dominic Evans

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below