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Turkish cenbank to focus on reducing swaps, strengthening FX reserves

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ISTANBUL — Turkey’s central bank said on Thursday that it will focus on gradually reducing the volume of swaps and strengthening forex reserves as part of its “liraization” strategy.

In the minutes of last week’s Monetary Policy Committee meeting, the bank said the upward trend in services sector revenues support the current account balance, but risks continue due to energy prices. (Reporting by Ali Kucukgocmen and Ezgi Erkoyun; Editing by Jon Boyle)



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