Turkey includes corporate deposits under lira protection scheme against FX

A woman looks at gold jewelleries as she stands outside a jewellery shop in Istanbul, Turkey December 20, 2021. REUTERS/Dilara Senkaya

ISTANBUL, Jan 11 (Reuters) - Turkey has included corporate foreign currency and gold deposit accounts converted to lira in a scheme that protects local currency savings against exchange rate volatility, the Official Gazette showed on Tuesday.

The dollars, euros, pounds or gold in corporate deposit accounts as of the end of 2021 may be converted to lira deposits with a maturity of six months to a year to be included under the scheme, the Gazette showed.

The scheme, announced in December, covers the difference if the difference in the exchange rate applicable at the end of the maturity is greater than the sum of the principal and yield.

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Reporting by Ali Kucukgocmen and Ezgi Erkoyun; editing by Uttaresh.V

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