Turkish lira bounces back after the government launched a new economic tool aimed at encouraging citizens to move towards lira-based assets
The new FX-indexed Turkish lira deposits tool will be available for individuals who have a lira deposit account with a maturity of three, six, nine, or 12 months.
The new FX-indexed Turkish lira deposits tool will be available for individuals who have a lira deposit account with a maturity of three, six, nine, or 12 months, according to a Treasury and Finance Ministry statement on Tuesday. All lenders – both state and private – can join the system voluntarily, the ministry said, adding that the government is also working to implement the new system for participation banks with Islamic finance perspectives.
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