ISTANBUL, March 31 (Reuters) - Turkey has scrapped the
maximum interest rate limit for domestic individual investors in
a scheme in which the state protects lira deposits from
depreciation, according to a regulation published on the
country's official gazette on Friday.
The regulation still stipulates that the interest rate
offered to lira deposits as part of the scheme cannot be below
the current policy rate of the Turkish central bank, but the
upper limit has been removed.
On Thursday, the central bank said Turkish companies would
be able to open lira accounts protecting against depreciation
without needing to convert foreign currency.
(Reporting by Mehmet Dinar; Writing by Ezgi Erkoyun; Editing by
Hugh Lawson)
Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))
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