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Companies & Markets

Turkish banking watchdog limits banks' forex swap transactions

Published Sun, Feb 9, 2020 · 10:39 PM
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[ISTANBUL] Turkey's banking watchdog BDDK said on Sunday it was cutting the limit for Turkish banks' forex swap, spot and forward transactions with foreign entities to 10 per cent of a bank's equity.

The BDDK had previously set the limit at 25 per cent in August 2018.

In a statement, the BDDK said the rate will be calculated daily and new transactions will not be performed or renewed until they have fallen to the new limit.

REUTERS

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