Turkish Central Bank

Turkey's current account balance posted a deficit of $273 million in October, bringing 12-month rolling deficit to $33.79 billion, the Turkish Central Bank revealed on Dec. 11. 

The figure was a $2.74-billion surplus in the same month last year, while it was down from $1.8 billion deficit previous month, the bank said.

The Turkish Central Bank's official reserve assets grew 6.1% month-on-month to reach $84.5 billion in October, according to data released on Nov. 27. 

Foreign currency reserves- in convertible foreign currencies- increased by 12.4% to hit $40.8 billion, according to the bank's international reserves and foreign currency liquidity report.

The Turkish Central Bank on Nov. 26 increased its lira swap sale limits from 50% to 60%.

The bank raised the swap auctions limit in the Turkish Lira Swap Market for Foreign Exchange, according to information received by Anadolu Agency.

Previously, the bank had increased the limit from 40% to 50% in May.

The limit has been increasing gradually since last April from 20%.

Turkey's current account balance is expected to show a deficit of $3 billion on average in June, according to an Anadolu Agency survey on Aug. 12. 

The country's balance of payments figures for June will be released by the Turkish Central Bank on Friday, Aug. 14.

Turkey's current account balance posted a $5.06 billion gap in April, widening from a $469 million deficit in the same month last year, the Turkish Central Bank announced on June 12.

According to the balance of payments figures released by the bank, the country's 12-month rolling deficit totaled $3.3 billion.

Turkey will continue to back investments that will reduce imports and increase exports, said Berat Albayrak, the country's treasury and finance minister, on June 8.

The official reserves of the Turkish Central Bank reached $86.3 billion as of the end of April, the bank announced on May 28. 

The April figure showed that total reserve assets slipped 6.3% from the previous month.

Foreign currency reserves in convertible foreign currencies fell 15.5% to $50.1 billion during the same period.

The Turkish Central Bank on May 22 boosted its lira swap sale limits from 40% to 50%, according to banking sources.

The bank increased the limit of the swap auctions in the Turkish Lira Swap Market for Foreign Exchange, as per a directive it sent to lenders.

Thus, the banks' flexibility in Turkish lira and foreign currency liquidity management will have further increased.

The Turkish Central Bank on May 21 lowered its one-week repo rate by 50 base points, in line with market expectation.

A statement from the bank's fifth of 12 Monetary Policy Committee (MPC) meetings scheduled for this year said the policy rate was dropped to 8.25% from 8.75%.

The swap deal limit between the central banks of Turkey and Qatar has been amended to $15 billion equivalent of the Turkish lira and Qatari riyal.

According to a statement from the Turkish Central Bank (CBRT) on May 20, the move aims to facilitate bilateral trade in respective local currencies and to support the financial stability of the two countries.