Turkey Asks Banks for Dollars to Raise Foreign Exchange Reserves
By Aydan Eksin and Selcuk Gokoluk - May 29, 2012 7:18 AM ET
Turkey’s central bank is seeking to increase its foreign currency reserves by as much as $2.1 billion by asking banks to deposit more of their lira reserve requirements in foreign exchange.
The central bank in Ankara raised the portion of required reserves banks can keep in foreign currency to as much as 45 percent of total reserves from 40 percent, it said in statement on its website today.
More:Turkey Asks Banks for Dollars to Raise Foreign Exchange Reserves - Bloomberg