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Turkish cenbank to allow gold for forex, location swap deals

Reuters | August 17, 2018 | 9:59 am Precious Metals Europe Gold

ANKARA, Aug 17 (Reuters) – The Turkish central bank will allow gold for foreign exchange and location swap deals in order to provide physical gold transactions at its Istanbul and Ankara branches, a document sent by central bank to Turkish banks said.

The central bank will use the spot gold price in international markets for its swap deals, which will be made through its accounts in the Bank of England (BoE), the document, seen by Reuters, said.

(Reporting by Nevzat Devranoglu; Writing by Tuvan Gumrukcu and Ece Toksabay)