May 25, 2018 / 7:03 AM / 7 months ago

Turkey's central bank says to allow some rediscount credit payments in lira

ISTANBUL, May 25 (Reuters) - Turkey’s central bank will allow the repayment of some rediscount credits for export and foreign exchange earning services to be repaid in Turkish lira, it said on Friday, a move designed to ease the strain from the currency sell-off.

The step corresponds to about $3.5 billion of repayments, bankers said.

Companies will be able to repay the discount credits at a fixed exchange rate of 4.2 lira to the dollar, 4.9 to the euro and 5.6 to the pound sterling, it said in a statement.

The lira was at 4.7460 to the dollar at 0657 GMT. (Reporting by Nevzat Devranoglu; Writing by Daren Butler; Editing by David Dolan)

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