NEWS Finance        20/11/2020

Turkish Central Bank raises swap rate to 15% in line with its new main policy rate

The Turkish Central Bank has today raised the interest rate in its lira swap operations by 175 basis points from 13.25% to 15%, following its hike of one week repo policy interest rate by 475 basis points from 10.25% to 15% on November 19th.  


The Bank had previously increased the swap rate from 10.25% to 11.75% on October 9th, following the increase in its one week repo policy interest rate by 200 basis points to 10.25% on September 24th, and from 11.75% to 13.25% on November 3rd.                  

Turkey’s net minimum wage has been raised 21.56% to TL 2,825.90 (USD 380) as of 01.01.2021       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s official annual inflation rate increases to 19.25% in August 2021       Turkey’s official unemployment rate shoots back up to 12% in July 2021       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 83,614,362 as of 2020 yearend       Foreigners visiting Turkey in 2020 falls by 71.7% to 12.7 million       Turkey’s private sector foreign debt is USD 173.9 billion as of 2020 yearend       Turkey’s economy grew by 1.8% in 2020       Foreign Direct Investment inflow to Turkey was USD 7.7 billion in 2020