Cyprus Mail
BusinessInternationalTurkey

Turkish watchdog cuts banks’ forex to capital ratio limit

turkey dollar

Turkey’s BDDK banking watchdog has set the foreign currency net position to standard capital ratio for banks at a maximum 5 per cent according to a regulation published in the country’s official gazette on Saturday.

The amendment takes effect on January 9, it said.

The regulation was last amended in 2014 when it was set at a maximum of 20 per cent, the Anadolu state news agency reported.

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