Turkey to Double Lira Loan Reserves Amid Steps to Boost Currency
- Lira loans first subjected to reserve requirements in April
- Currency is worst performer in emerging markets this quarter
Diners at a terrace outside a port-side cafe in Istanbul.
Photographer: Erhan Demirtas/BloombergThis article is for subscribers only.
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Turkey will double the amount of money that banks must set aside as reserves for commercial lira loans to 20%, the central bank said, as authorities look for backdoor ways to bolster the currency without raising interest rates.