Central bank opens forex for gold swap market

DAILY SABAH WITH WIRES
ISTANBUL
Published 02.10.2019 01:03

Turkey's central bank said yesterday it has opened a foreign exchange (forex) gold swap market

In a written statement, the Central Bank of the Republic of Turkey (CBRT) said the move was meant to increase the banks' efficiency in liquidity management.

The transactions will be conducted by both selling and buying sides via quotation method with banks authorized in the foreign exchange and banknotes market within their predetermined limits, the bank said.

The bank announced that operations will begin today.

The CBRT added that details regarding these transactions would be announced daily via data vendors.

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