While the depreciation of the Turkish lira has increased recently, the Central Bank took a new step. For the first time in about 8 months, the Bank realized a Turkish lira-settled forward foreign exchange sale transaction.
The Central Bank of the Republic of Turkey (CBRT) conducted Turkish lira-settled forward foreign exchange sales transactions for the first time since July 2023.
According to the information on the CBRT’s website, a Turkish lira-settled forward foreign exchange sale transaction amounting to USD 475 million was realized at the CBRT today.
The last time the CBRT carried out such a transaction was on July 14, 2023, and no transaction was carried out in the following period.
In April last year, in order to increase the diversity of instruments, the CBRT decided to allow Turkish lira-settled forward foreign exchange sales transactions to be carried out directly with banks willing to make transactions.
Transactions can only be conducted with banks authorized to conduct transactions in the Foreign Exchange Markets.
