May 22, 2020 / 6:16 AM / 4 days ago

Turkish central bank receives $10 bln from Qatar swap deal

ANKARA, May 22 (Reuters) - Turkey’s central bank has received $10 billion from a currency swap agreement it secured with Qatar on Wednesday, according to the bank’s analytical balance sheet on Friday.

The bank announced on Wednesday it struck a deal to increase its currency-swap agreement with Qatar to $15 billion from $5 billion, providing some much-needed foreign funding to reinforce its depleted reserves and shore up the Turkish lira.

Reuters reported last week that Ankara had urgently appealed to Qatar and China about expanding existing swap lines, and to the United Kingdom and Japan about possibly establishing them. A senior Turkish officials told Reuters on Wednesday that talks were continuing.

Reporting by Nevzat Devranoglu; Writing by Tuvan Gumrukcu; Editing by Jonathan Spicer

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