Turkey’s central bank: Will closely monitor exchange rate developments and related risk factors

In 2022 will continue gold ore purchases against try with a view to accumulating reserves.

In 2022, may continue gold buying and selling transactions against fx in its spot market.

Will continue to provide banks with fx liquidity at one-week and one-month maturities at the central bank fx deposit market, with a limit of approximately $50 bln in total.

Will aim to strengthen the effectiveness of the monetary policy as well as boosting forex reserves for the sake of financial stability.

Negotiations to sign swap agreements with other central banks will continue.

Required portion of the fx demand of the state-owned enterprises will be met directly by the central bank and finance ministry according to market conditions.

More than one repo auction may be conducted with maturities between 5 and 12 days -when deemed necessary.

Will use reserve requirements as a supporting instrument in pursuit of the price stability and financial stability objectives.

In 2022, the reserve options mechanism will be completely terminated.

Comprehensive studies will be carried out to increase the amount of gold collected from under the mattress.