Turkish cbank increases export rediscounting credit
The Turkish Central Bank said Friday it had increased export rediscounting credit by 500 million USD to one billion USD.
The bank said the move was part of measures aimed at easing the negative effects of a global financial malady on the Turkish real sector, reported World bulletin.
The bank said it had re-arranged rules and regulations for simpler access to the export rediscounting credit.
The bank also reduced the foreign currency statutory reserves for Turkish commercial banks down to 9 percent, saying that the reduction would infuse 2.5 billion USD additional liquidity to the banking system.