Baku. 9 March. REPORT.AZ/ Turkey's Sovereign Wealth Fund will serve as function of confidence against any speculative movements in financial markets and can intervene if necessary. Report informs citing the Bloomberg, Turkish Economy Minister Nihat Zeybekci, said in an interview in London.
According to minister, exchange rate in Turkey would find its equilibrium point and he listed the measures to be implemented in the future.Zeybekci said that decision will be made regarding the necessity to converse funds transferred as a result of sales carried out from Turkey into the free trade area and vice versa. That will decrease demand for US dollar by 6-7 bln USD. "Before we were forced to use these currencies in these types of operations, but now we are changing it".
Notably, treasuries of number of state-owned enterprises in Turkey including "Ziraat Bank", "Borsa İstanbul", BOTASH (100%) and "Turk Telekom" by (6,68%) transferred to the sovereign Fund by decision of Council of Ministers.