U.S. dollar traded at 1.726 TL on Monday morning and euro hit an all-time record, trading at 2.484 TL.

The bank also said it reduced required reserve ratios for foreign-exchange deposits with maturities of one-year and longer.

Required reserve ratio for foreign-exchange deposits with maturities of one year and higher was cut from 11 percent to 10 percent as it was reduced from 11.5 percent to 10 percent for foreign-exchange deposits with maturities of up to three years.

Required reserve ratio for foreign-exchange deposits with maturities higher than three years was cut to 9 percent from 11 percent.The ratio cuts are expected to inject 590 million USD in the market.