Turkish c.bank May Raise Limit of Lira Reserves Held in Gold

The Turkish Central Bank said on Thursday it may gradually raise the upper limit of lira required reserves that can be held in gold to 30 percent from 20 percent currently.

At its monthly policy meeting on Tuesday, the bank decided to raise the upper limit of lira required reserves that banks may hold in forex to 45 percent from 40 percent.

Central Bank Governor Erdem Basci said the bank could raise the amount of lira reserves that banks can hold in foreign currency further up to 60 percent.