March 19, 2020 / 11:58 AM / 13 days ago

Forex held by Turkish locals edges down from record high

ISTANBUL, March 19 (Reuters) - Foreign currency deposits and funds, including precious metals, held by Turkish individuals and corporates edged down to $200.76 billion as of March 13, central bank data showed on Thursday.

A week earlier it stood at a record high of $201.70 billion.

Turks have flocked to hard currencies since the lira fell nearly 30% against the dollar two years ago. It has fallen another 8.5% so far this year as investors weigh the global impact of the coronavirus outbreak.

The central bank’s gross forex reserves fell to $72.47 billion as of March 13, from $75.14 billion a week earlier, data also showed. (Writing by Ezgi Erkoyun Editing by Dominic Evans)

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