The Central Bank of the Republic of Turkey (CBRT) stated that transactions made with the quote method and with a maturity of 1 week on the Turkish lira currency exchange market to facilitate funds to be provided to the earthquake region from abroad, it can also be done with longer maturities with banks that will act as intermediaries for the funds to be used.

According to the information received, the CBRT sent a letter of instruction to the banks regarding the expiration of the Turkish lira foreign exchange market transactions related to the earthquake zone.

Consequently, it was indicated that after the earthquake disaster of February 6, it would be appropriate to extend the maturities of the quote method and the 1-week expiry transactions to use the emergency support funds to be provided by the international development and investment banks. or funds to be obtained from abroad for this purpose in the region of the earthquake.

‘ONLY ACTIONS…’

In the instructions, where the practices and principles regarding long-term financial swap operations to be carried out with the quotation method were also transmitted, the following was indicated:

“Transactions are carried out only with banks authorized to negotiate in the foreign exchange markets and who will act as intermediaries in the use of said funds.

Banks submit their transaction requests to the Foreign Exchange Department prior to the transaction date.

Transactions are made using the quote method, in Turkish lira against USD/Euro, and in the form of sales of Turkish lira against foreign currency on the value date.

Information about transactions is announced on page DV013 through PVDS at 10:00 on the days of the transaction. (AA)