KEB begins banking services in Turkish currency

SEOUL, Nov. 26 (Yonhap) -- South Korea's No. 5 lender Korea Exchange Bank (KEB)
will begin to accept the Turkish currency for remittance and exchanges with other
global currencies to meet increasing service demand for the unit, the bank said
Thursday.
Starting Friday, KEB will also receive deposits and buy export bills denominated
in the Turkish lira in all of its outlets across the country, according to the
lender.
With the new service, exporters holding the Turkish currency, who previously had
to convert it into the U.S. dollar, will be protected from fluctuations in the
currency market, the lender said.
"KEB opened the foreign currency service in the Turkish lira as exchanges between
Korea and Turkey and the number of tourists from the region are expected to
increase continuously," KEB said in a statement.
pbr@yna.co.kr
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