Page 26 - TURKRptNov20

the chart below, the overall funding rate at 10.38%, including USD-TRY swaps with local banks, versus a weighted average cost of funding (WACF) of 11.47% as of October 8.
Since then, the central bank has hiked its ‘FX swap 1w’ and ‘Altin (gold) swap 1w’ rates to 11.75% while the ‘ihale’ (auction) rates gradually reached 11.42% as of October 20 (but that is not the overall average figure, it represents only one auction).
26​ TURKEY Country Report​ November 2020 ​ ​www.intellinews.com