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Unlimited liquidity for Turkey's banks

dpadpa 17/07/2016

Turkey's central bank says it will provide "unlimited liquidity" to banks and do everything necessary to preserve financial stability.

Turkey's central bank says it will provide "unlimited liquidity" to banks as necessary and will take "all measures" needed to preserve financial stability in the wake of the failed military coup attempt.

Turkish media had earlier reported the bank was holding an emergency meeting to discuss what was needed.

Following the coup attempt, the lira fell versus major currencies, spiking from 2.87 to cross the threshold of 3 liras to the dollar.

It was trading on Sunday at about 3.02.

The bank said in a statement it would take all necessary measures to protect financial stability and that all central bank markets and systems would stay open until transactions were complete.

If needed, it would increase the current $US50 billion ($A65.51 billion) foreign depot limit.

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