ISTANBUL, Feb 9 (Reuters) – Turkey’s banking watchdog BDDK said on Sunday it was cutting the limit for Turkish banks’ forex swap, spot and forward transactions with foreign entities to 10% of a bank’s equity.

The BDDK had previously set the limit at 25% in August 2018.

In a statement, the BDDK said the rate will be calculated daily and new transactions will not be performed or renewed until they have fallen to the new limit. (Reporting by Ebru Tuncay and Nevzat Devranoglu; Kirsten Donovan)

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