· In terms of buying TRY, the swap limit of Turkish banks has been increased from 1% to 10% of their equity.
· The limit of banks for selling TRY has been increased to 2% for transactions that will be due in 7 days, to 5% for those that will be due in 30 days, and to 20% for those that will be due within 1 year.
The old version of transaction limits in the direction of TRY selling was 1%, 2% and 10%, respectively. Thus, the equity limitation in TRY-legged transactions applied to non-residents was normalized. With this normalization step, which brings relief in terms of derivative transactions made by banks with foreigners, a market-friendly move came from the BRSA after the Central Bank's interest rate decision. The foreign investor will welcome the positive real interest rate (assuming that the Central Bank will direct the funding towards the LLW band again) and the facilitation of TRY transactions.
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Hibya Haber Ajansı
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