Turkish cenbank to start lira-settled forex forward sales - Reuters

A logo of Turkey's Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. REUTERS/Cagla Gurdogan

ANKARA, Dec 21 (Reuters) - Turkish central bank said on Tuesday it would carry out lira-settled foreign exchange forward sales, with the aim of helping exporting and importing companies to manage forex rate risk, via auctions and the derivatives market.

The lira-settled foreign exchange forward selling auctions will be held with maturities of 1 month and 3 months, the bank said. Importing and exporting companies will be able to convey their buying demands via banks, it said.

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Reporting by Ezgi Erkoyun Writing by Ece Toksabay; Editing by Alison Williams

Our Standards: The Thomson Reuters Trust Principles.

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https://www.reuters.com/world/middle-east/turkish-cenbank-start-lira-settled-forex-forward-sales-2021-12-21/

2021-12-21 16:45:00Z
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