Central Bank Intervenes In Foreign Exchange Market

ANKARA - Central Bank has intervened in the foreign exchange market by purchasing foreign exchange after fluctuation in foreign exchange rates increased due to positive expectations about Cyprus talks.
Releasing a statement, the Central Bank said that Monday's intervention in foreign exchange market was not triggered by any concern about foreign exchange rates.
Stating that the foreign exchange rate was determined by supply and demand conditions in markets under floating exchange rate system, the Central Bank reiterated that it pursued closely the fluctuation in foreign exchange rate. The Central Bank noted that it could directly intervene in markets in case of an extreme fluctuation.
(UK-AÖ) 16.02.2004