AGL 40.00 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 127.10 Decreased By ▼ -0.89 (-0.7%)
BOP 6.69 Increased By ▲ 0.09 (1.36%)
CNERGY 4.50 Decreased By ▼ -0.10 (-2.17%)
DCL 8.51 Increased By ▲ 0.03 (0.35%)
DFML 41.39 Decreased By ▼ -0.09 (-0.22%)
DGKC 86.70 Increased By ▲ 0.12 (0.14%)
FCCL 32.20 Increased By ▲ 0.06 (0.19%)
FFBL 64.80 Decreased By ▼ -0.62 (-0.95%)
FFL 10.24 Decreased By ▼ -0.01 (-0.1%)
HUBC 109.42 Decreased By ▼ -1.07 (-0.97%)
HUMNL 14.70 Decreased By ▼ -0.05 (-0.34%)
KEL 5.07 Decreased By ▼ -0.06 (-1.17%)
KOSM 7.43 Increased By ▲ 0.31 (4.35%)
MLCF 41.30 Decreased By ▼ -0.35 (-0.84%)
NBP 60.26 Increased By ▲ 0.17 (0.28%)
OGDC 189.99 Decreased By ▼ -4.70 (-2.41%)
PAEL 27.80 Decreased By ▼ -0.15 (-0.54%)
PIBTL 7.78 Decreased By ▼ -0.22 (-2.75%)
PPL 149.25 Decreased By ▼ -1.92 (-1.27%)
PRL 26.75 Decreased By ▼ -0.13 (-0.48%)
PTC 15.97 Decreased By ▼ -0.03 (-0.19%)
SEARL 86.02 Increased By ▲ 7.82 (10%)
TELE 7.70 Increased By ▲ 0.31 (4.19%)
TOMCL 35.38 Decreased By ▼ -0.29 (-0.81%)
TPLP 8.13 Increased By ▲ 0.22 (2.78%)
TREET 16.32 Increased By ▲ 0.43 (2.71%)
TRG 53.20 Increased By ▲ 0.44 (0.83%)
UNITY 26.17 Decreased By ▼ -0.38 (-1.43%)
WTL 1.25 Decreased By ▼ -0.02 (-1.57%)
BR100 9,871 Decreased By -49.2 (-0.5%)
BR30 30,554 Decreased By -197.7 (-0.64%)
KSE100 93,306 Increased By 81.8 (0.09%)
KSE30 28,914 Increased By 29.3 (0.1%)

ISTANBUL: Turkey extended by a year a scheme that had it adopted in the throes of a 2021 currency crisis which protects lira deposits from depreciation versus hard currencies.

A presidential decree published in Saturday’s official gazette amended the deadline for opening new so-called KKM accounts to Dec. 31, 2023.

President Tayyip Erdogan’s government introduced the state-backed scheme in December 2021 to stem a historic lira collapse triggered by interest rate cuts that Erdogan had sought. The lira has still lost 29% versus the dollar this year but has held mostly stable since August.

Turkish budget payments into KKM stood at 9.3 billion lira ($500 million) in September.

Comments

Comments are closed.