Turkey says central bank swap deal with Qatar to have US$3b limit

[ISTANBUL] A currency swap agreement between the Turkish and Qatari central banks will have an overall limit of US$3 billion, the Turkish central bank said in a statement on Monday.

The two central banks signed the deal on Friday to provide liquidity and support for financial stability, days after Turkey's Gulf ally pledged US$15 billion in support.

"The swap agreement has been signed over Turkish lira and Qatari riyal and concluded with an overall limit of $3 billion," the central bank said in a statement on its website. The core objective of the deal was to facilitate bilateral trade in local currencies and support financial stability, it said.

REUTERS