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Turkey’s central bank raises gold reserve coefficients

The bank raised its reserve option coefficients for gold by 0.1 points, a move which will boost the central bank’s gold reserves.

Turkey’s central bank raised the amount of gold that lenders have to provide to the central bank to hold a portion of their required reserves in the commodity, a move which will boost the central bank’s gold reserves.

The bank raised its reserve option coefficients for gold by 0.1 points, meaning that banks holding a portion of their lira reserves in gold will now have to provide proportionally more of the precious metal in order to do so.

(Reporting by Seda Sezer; Editing by Nick Tattersall)

 

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