May 6, 2020 / 2:32 PM / a month ago

Turkey's Albayrak says reserves solid, dismisses capital controls option-sources

LONDON, May 6 (Reuters) - Turkish Finance Minister Berat Albayrak told investors on Wednesday the country’s reserves are more than adequate and dismissed suggestions that authorities could impose capital controls, according to three people on a conference call.

He said Turkey has never deviated from free market practices and any future policy measures will abide this principle, said one of the sources who had been on the call said. Albayrak added he was optimistic about sealing a deal for a swap line for FX funding, though he gave few details, the sources said.

The government’s dollar-denominated bonds fell, extending their steepest falls in over three weeks with some down as much as 1.8 cents, by the time the call had ended. (Reporting by Karin Strohecker and Sujata Rao; Editing by Alex Richardson)

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