Turkey: Central Bank enables long-term lira swaps

ISTANBUL

The Central Bank of Turkey (CBRT) has announced that Turkish lira currency swap transactions would be executed with widened periods.

Transactions previously only had a one-week maturities via the quotation method through the Turkish Lira Currency Swap Market, which opened in August 2018.

"With the aim of enhancing flexibility in Turkish lira and FX liquidity management, Turkish lira currency swap transactions will also be executed with one, three and six-month maturities via the traditional auction (multiple-price) method," the CBRT said.

It added: "The details of the auctions to be held on days deemed necessary will be announced at 10:00 [local time, GMT 0700] via data vendors."