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    Turkish CB suspends daily dollar buying tenders to enhance liquidity

    HotNewsTurkey with wires
    15 Ekim 2008 - 16:32Son Güncelleme : 15 Ekim 2008 - 16:42

    Turkey's Central Bank suspended daily dollar buying auctions as of Thursday to enhance the liquidity conditions of banks, it said in a statement on Wednesday.

    "The aim is to keep the liquidity, which is permanently withdrawn from the foreign exchange market through foreign exchange buying auctions, in the system," the bank added.

     

    The Central Bank said the foreign exchange liquidity ratios of all banks are above the legal limit of the minimum 80 percent.

     

    This is the second step the Turkish Central Bank took to cushion the potential impacts of the global credit crunch. The bank re-launched the foreign exchange depot market for banks to borrow from each other through the central bank.

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