World Bulletin / News Desk
"The upper limit for the FX maintenance facility within the reserve options mechanism has been lowered to 40 percent from 45 percent," the Central Bank said in a statement put forth on its website.
The bank added: "With this revision, approximately $2.2 billion of liquidity will be provided to banks."
The U.S. dollar was traded for 3.82 Turkish liras on average in the beginning of the current year.
Last week, White House spokeswoman Sarah Sanders said the U.S. has imposed sanctions on Suleyman Soylu, the interior minister, and Abdulhamit Gul, the justice minister, for not releasing American pastor Andrew Craig Brunson, who faces terrorism charges in Turkey.
According to U.S. law, those mentioned on the sanctions list will have their assets and properties under U.S. jurisdiction blocked and American businesses and individuals will be prohibited from engaging in financial transactions with them.
Following the sanctions decision, the U.S. dollar/ Turkish lira exchance rate climbed over 4.90.
While it closed the last week at 5.08, it reached nearly 5.20, by market close on Monday.
BIST 100 index surpasses 90,000 points before going into four-and-a-half-day break
Deal aims to enhance cooperation between two banks through setting a two-way currency exchange line
President Nicolas Maduro has described the move as a "great change" as the government attempts to halt spiraling hyperinflation that the International Monetary Fund predicts will hit a staggering one million percent this year.
The year-over-year increase in consumer prices was the largest since September 2011 and follows a 2.5 percent rise in June of this year. Analysts had expected it to remain flat.
Consumer confidence index stands at 68.3 this month, compared to 73.1 in July, according to official data
Euro area goods trade surplus reaches nearly $110B, EU28 deficit at $4B, say Eurostat figures
BIST 100 rises above 1,200 points, Turkish lira gains value against foreign currencies
Use of dollar as tool of pressure will result in its refusal as means in international payments, says top Duma deputy
Excluding interest payments, central government's budget balance saw surplus of nearly $1.95B last month
Regulation enters into force on Sept. 1, says Official Gazette
Foreigners buy over 2,800 houses, marking 65.6 percent rise year-on-year, according to TurkStat
BIST 100 rises above 1,600 points, Turkish lira gains value against foreign currencies
Amazon on course to join Apple as world’s only companies worth over $1 trillion