Reuters exclusively reports Turkey's BOTAS to tap cenbank forex and prop up lira - Reuters News Agency
Business & FinanceEnergy

Reuters exclusively reports Turkey’s BOTAS to tap cenbank forex and prop up lira

Reuters reported exclusively that Turkey’s state energy company BOTAS is expected to turn to the central bank to help meet its growing need for hard currency and to support the lira as gas prices and demand climb during the peak consumption winter months. Reuters sources said that the government intends BOTAS to tap the central bank’s foreign reserves to help limit any further depreciation in Turkey’s currency, which has fallen to all-time lows beyond 10.5 to the dollar. And its need for hard currency is expected to remain high until March.

Article Tags
Topics of Interest: Business & FinanceEnergy
Type: Reuters Best
Sectors: Business & FinanceCommodities & EnergyEconomy & PolicyEquitiesFX & Fixed Income
Regions: Europe / Middle East / Africa
Countries: Turkey
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
FILE PHOTO: A logo of Turkey's Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. REUTERS/Cagla Gurdogan/File Photo
Sign up for email updates
Sign up for email updates