February 27, 2020 / 11:49 AM / a month ago

Forex held by Turkish locals rises to new record high as of Feb. 21 -cenbank

ISTANBUL, Feb 27 (Reuters) - Foreign currency deposits and funds, including precious metals, held by Turkish individuals and corporates rose to a record high of $197.69 billion as of Feb. 21, central bank data showed on Thursday.

Turks have flocked to hard currencies in the wake of a currency crisis in 2018 that saw the lira lose nearly 30% of its value against the dollar.

The central bank’s gross forex reserves rose to $73.02 billion as of the same date, from $75.47 billion a week earlier, data also showed. (Reporting by Gdansk newsroom; Writing by Ali Kucukgocmen; Editing by Ezgi Erkoyun)

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