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ANKARA - Turkish Central Bank will start ''foreign exchange sales'' and ''new Turkish lira deposit buying'' auctions as of today.
Releasing a statement, the Central Bank said that amounts of foreign exchange sales auctions will be made public at 10 a.m. on certain days when they were needed, noting that it would begin foreign exchange sales auctions, with a maximum volume of 500 million USD on Monday.
The central bank indicated that it would start new Turkish lira deposit buying auctions to drain lira liquidity from the market.
Central Bank Monetary Policy Committee raised short term interest rates by 2.25 points after it discussed recent developments in money markets in a meeting on Sunday.
The monetary policy committee increased the overnight borrowing interest rate from 15 to 17.25 percent and the lending interest rate from 18 to 20.25 percent.