Turkısh Central Bank Ups Forex Reserve Requırement To 9.5%
The Turkish Central Bank said Monday it has increased the foreign exchange reserve requirement rate to 9.5% from 9%.
The move forms part of the bank ' s exit strategy from the extraordinary economic stimulus measures it implemented in late 2008 as a response to the global financial crisis .
In a statement , the bank said April 14 that it plans to exit cautiouslygradually from the stimulus program , specifying that it could raise foreign exchange reserve requirement rates .
( SB-SB-ENG )
