World News

Turkish central bank to apply commission on forex required reserves: Bloomberg HT

ISTANBUL (Reuters) – Turkey’s central bank will begin applying a commission on foreign currency required reserves, broadcaster Bloomberg HT reported on Thursday.

The bank will charge an annual 0.025% on required reserves for U.S. dollar-denominated deposits and participation funds, the report said, citing three sources.

It will charge an annual 0.0025% on required reserves for non-U.S. dollar-denominated deposits and participation funds that are held in euros and U.S. dollars, it said.

The new regulation will take effect on Jan. 10, the report said.

(Reporting by Ali Kucukgocmen and Nevzat Devranoglu; Editing by Dan Grebler)