Central Bank Lowers Forex Deposit İnterest Rates

Central Bank of Turkey lowered foreign exchange deposit interest rates at 3-4 points, for dollar and euro.

"In line with global interest rate developments, the rates applied to banks' one week maturity borrowings from the Central Bank have been reduced from 7.5 percent to 4.5 percent for dollar and from 6.5 percent to 2.5 percent for euro, effective from March 10, 2015" Central Bank said in a statement released on Monday. - Istanbul