Turkish Central Bank opens FX gold swap market

The Central Bank of Turkey (CBRT) on Tuesday opened a foreign exchange gold swap market.

In a written statement, the CBRT said the move was meant to increase banks' efficiency in liquidity management.

"The transactions will be conducted both on the buy or sell sides via quotation method with banks authorized in the foreign exchange and banknotes market within their pre-determined limits.

"The transactions to be conducted in the aforementioned market on behalf of the Central Bank will start on Wednesday," it said.

The CBRT added that details regarding these transactions would be announced daily via data vendors.