April 4, 2019 / 11:51 AM / 2 months ago

Forex holdings of Turkish locals hit another record high -cenbank

ISTANBUL, April 4 (Reuters) - Total forex deposits and funds including precious metals held by Turkish local individuals and institutions have hit another record high, standing at $181.93 billion in the week to March 29, data from the central bank showed on Thursday.

Analysts say the sharp increase in forex holding signal declining confidence in the lira. Forex holdings of local individuals have risen steadily for more than six months, following last year’s currency crisis which saw the lira fall as much as 47 percent against the dollar in the first eight months of 2018.

The central bank’s gross forex reserves stood at $75.41 billion in the same week, up from $71.4 billion a week earlier, the data also showed. (Reporting by Ali Kucukgocmen Editing by Dominic Evans)

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