Türkiye's Central Bank further supports lira deposits

Türkiye's Central Bank has introduced a package of new measures aimed at increasing the share of  Turkish Liras deposits in the financial system, Hurriyet Daily News reported.

Back in August, the bank started to roll back the FX-protected deposit accounts scheme, ending an implementation that previously stipulated a target for conversion from foreign currency deposits to FX-protected deposits. According to the instruction sent to local lenders, the targeted monthly rise in the share of lira deposits in total deposits has been raised from 2% to 2.5%.

In a statement in August, the Central Bank said that the FX-protected deposit accounts-related steps were part of the simplification process, Hurriyet Daily News added.

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