Breaking news Turkey
  • General
  • World
  • Türkiye
  • Politics
  • Economy
  • Tech
  • Travel
No Result
View All Result
breaking news turkey
  • General
  • World
  • Türkiye
  • Politics
  • Economy
  • Tech
  • Travel
No Result
View All Result
breaking news turkey
Home Economy

Turkey plans incentives to get citizens to shift from gold to lira deposits

December 29, 2021
in Economy
Reading Time: 1 min read
A A
0
Turkey plans incentives to get citizens to shift from gold to lira deposits
Share on FacebookShare on Twitter

The Turkish Central Bank on Wednesday said it would give incentives to encourage people to shift from gold to lira deposits.

You might also like

Record-breaking October for Turkish exports as trade reaches new heights

Record-breaking October for Turkish exports as trade reaches new heights

November 6, 2023
Number of tourists visiting Antalya exceeds 14.5 million

Number of tourists visiting Antalya exceeds 14.5 million

October 25, 2023

The move is part of ongoing efforts to prop up the Turkish lira.

The bank said in a statement that it has decided to “provide incentive to deposit and participation fund holders in the event that they convert their gold deposits and participation funds into Turkish lira time deposit accounts.”

270-BILLION-DOLLAR GOLD

According to analysts, the total amount in gold accounts currently stands at 270 billion liras ($22.4 billion), while the figure for accounts with a maturity of three months is around 15 billion liras ($1.2 billion).

The Turkish government has recently introduced a new mechanism to compensate lira depositors for foreign currency fluctuations.

The new FX-protected Turkish lira deposit tools will be available for people who have a lira deposit account with a maturity of three, six, nine or 12 months.

Under the facility, if the yield remains below the exchange rate, the government has pledged to pay the difference between the value of savings in lira and equivalent dollar deposits.

Tags: goldincentivesliraTurkey
News Desk

News Desk

Related Stories

Record-breaking October for Turkish exports as trade reaches new heights

Record-breaking October for Turkish exports as trade reaches new heights

November 6, 2023

Türkiye's Trade Minister revealed that the country's exports reached a new high for the month of October, with a year-on-year...

Number of tourists visiting Antalya exceeds 14.5 million

Number of tourists visiting Antalya exceeds 14.5 million

October 25, 2023

More than 14.5 million tourists visited the Turkish resort city as of Oct 24, 2023, according to the Mediterranean Touristic...

Şimşek meets with French business people to boost investments in Türkiye

Şimşek meets with French business people to boost investments in Türkiye

October 19, 2023

Türkiye's treasury and finance minister on Thursday met investors in the French capital Paris. Mehmet Şimşek conducted roundtable discussions with...

Türkiye to resume operations of Iraq oil pipeline this week

Türkiye to resume operations of Iraq oil pipeline this week

October 2, 2023

Türkiye's Energy Minister, Alparslan Bayraktar, announced on Monday that operations on a crude oil pipeline from Iraq, which had been...

Next Post
Turks in Austria have highest vaccination rate among foreigners

Turks in Austria have highest vaccination rate among foreigners

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Bomb attack injured six Indian soldiers in Pulwama

Bomb attack injured six Indian soldiers in Pulwama

June 18, 2019
Amazon eyeing long-term growth strategy with fast delivery options for Turkey

Amazon eyeing long-term growth strategy with fast delivery options for Turkey

April 20, 2021

Popular Story

  • Turkey playing key role in NATO for 70 years

    Turkey playing key role in NATO for 70 years

    586 shares
    Share 234 Tweet 147
  • Turkish forces seize sulfuric acid on way to Syria

    585 shares
    Share 234 Tweet 146
  • Turkish women’s volleyball team beat Germany

    585 shares
    Share 234 Tweet 146
  • Nuclear power currently meets 10% of global electricity supply

    585 shares
    Share 234 Tweet 146
  • Der Spiegel admits created fake stories about Turkey

    585 shares
    Share 234 Tweet 146
Breaking News Türkiye

SuperPanda Limited
Latest news from Turkey and the World

  • Privacy Policy
  • About Us

Copyright © 2023 Superpanda limited - Breaking news Turkey

No Result
View All Result
  • General
  • World
  • Türkiye
  • Politics
  • Economy
  • Travel
  • Tech
  • About Us

Copyright © 2023 Superpanda limited - Breaking news Turkey

Go to mobile version