Turkish lira settled forward foreign exchange sale transaction after eight months

The Central Bank of the Republic of Turkey (TCMB) has carried out a Turkish lira settled forward foreign exchange sale transaction for the first time since July 2023. According to the information on the website of the Central Bank of the Republic of Turkey (TCMB), a Turkish lira settled forward foreign exchange sale transaction of $475 million was carried out. The TCMB last carried out the transaction in question on July 14, 2023, and no transactions were made in the subsequent period. In April last year, the TCMB decided that in order to increase the variety of instruments, Turkish lira settled forward foreign exchange sales transactions could be carried out directly with banks that wanted to make transactions. Transactions can only be carried out with banks authorized to trade in the Foreign Exchange Markets.