Turkish Exporters Expected To Sell More FX To Central Bank
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Description
Turkish authorities are considering raising the share of foreign currency revenues that exporters are required to sell to the central bank to as high as 50% from 25% now. Authorities...
show moreAuthorities could decide not to change the level or hike it by any amount to as high as 50%,
The mandate only covers revenues in U.S. dollars or euros.
The government had earlier mandated exporters to sell 25% of their foreign currency revenues to the central bank, which is seeking to bulk up its reserves in the wake of a currency crisis late last year.
Information
Author | Africa Business Radio |
Organization | Africa Business Radio |
Website | - |
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