July 29 (Reuters) – Turkey’s Central Bank, which on Thursday raised its foreign currency reserve requirement to 10 percent from a previous 9.5 percent, said the measure would drain $719.6 million liquidity from the market.
The move is part of the central bank’s unwinding of financial-crisis induced measures intended to ease liquidity pressures. Turkey’s forex reserve requirements stood at 11 percent in December 2008.
(Reporting by Alexandra Hudson)
