May 17, 2019 / 2:08 PM / 8 days ago

Turkey abandons plan to transfer central bank's legal reserves to budget -sources

ANKARA, May 17 (Reuters) - Turkey has for now abandoned a plan to transfer the central bank’s legal reserves to the Treasury, two sources close to the issue told Reuters on Friday.

On Monday, Reuters reported that the Treasury ministry was working on legislation to transfer the central bank’s 40 billion lira ($6.6 billion) in legal reserves to the government’s budget to shore it up.

$1 = 6.0494 liras Reporting by Orhan Coskun; Writing by Ezgi Erkoyun; Editing by Jonathan Spicer

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