Turkish Central Bank Governor Hafize Gaye Erkan has said that the bank will no longer use its foreign exchange reserves to support the exchange rate of Turkish lira, the Ekonomim news agency reported on Monday, citing sources
ISTANBUL (Pakistan Point News / Sputnik - 03rd July, 2023) Turkish Central Bank Governor Hafize Gaye Erkan has said that the bank will no longer use its foreign exchange reserves to support the exchange rate of Turkish lira, the Ekonomim news agency reported on Monday, citing sources.
Erkan held a meeting with the heads of banks on June 23, one day after the decision of the Central Bank to raise the key rate. The bankers have said that the meeting was productive and declared their readiness to do everything possible for the Turkish economy, Ekonomim reported.
According to the news agency, Erkan said at that meeting that the Cental Bank will no longer use its reserves to support the lira rate.
