ANKARA, March 30 (Reuters) - Turkish companies facing
forex payments will be able to open lira accounts protecting
against depreciation without needing to convert foreign
exchange, and a central bank source said on Thursday there would
no limit on the interest rate offered.
An announcement in the country's Official Gazette said the
accounts will have a minimum maturity of one month compared to a
previous minimum of three months under the scheme.
Ankara launched the scheme protecting lira deposits from
depreciation in late 2021 to ease an historic currency crash in
which Turks were flocking to dollars. The lira lost 44% versus
the dollar that year, and nearly 30% in 2022 but has stabilised
this year ahead of May elections.
(Reporting by Nevzat Devranoglu;
Writing by Can Sezer;
Editing by Daren Butler)
daren.butler.thomsonreuters.com@reuters.net))
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