Turkish Central Bank boosts swap sale limit

ISTANBUL

The Turkish Central Bank on Tuesday boosted its lira swap sale limits from 30% to 40%.

"The total Turkish liras swap sale limit in the Central Bank’s Turkish lira currency swap market was raised from 30% to 40% for swap transactions that have not matured," banking sources told Anadolu Agency, speaking anonymously due to restrictions on speaking to the media.

On April 22 the bank raised the limit from 20% to 30%.

Analysts said the move will pave the way for banks to swap for larger amounts thus allowing the Central Bank to boost its reserves.