The Central Bank of the Republic of Turkey increased on Tuesday the overnight interest it pays to dollar-denominated required reserves, reserve options and free accounts from 0.14 percent to 0.15 percent. The CRBT kept overnight interest rates at 0.12 percent from May 5 to June 1, and increased them to 0.14 percent on June 1. The bank had begun paying interest to dollar-denominated required reserves, reserve options and free accounts on May 5. The interest rates are determined on a daily basis in line with changing global and domestic financial market conditions. The bank had announced on Monday that the deposit interest rate for the dollar was reduced to 3.5 percent from 4 percent and the rate on euro deposits was reduced to 1.5 percent from 2 percent.