Turkey and Qatar increase currency swap limit to $15B
Turkey and Qatar’s central banks have increased the currency swap limit to $15 billion from $5 billion, Turkey’s Central Bank announced in a statement on Wednesday.
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The swap agreement, which was signed on 17 August 2018 between the Central Bank of the Republic of Turkey (CBRT) and Qatar Central Bank (QCB), was amended.
With the swap amendment agreement, the overall limit has been increased from USD 5 billion equivalent of Turkish lira and Qatari riyal to USD 15 billion equivalent of Turkish lira and Qatari riyal.
“The core objectives of the agreement are to facilitate bilateral trade in respective local currencies and to support financial stability of the two countries,” the statement said. (ILKHA)
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