April 11, 2019 / 11:45 AM / 2 months ago

Turkey sovereign dollar bonds sink with lira after FX reserves drop

LONDON, April 11 (Reuters) - Turkey’s dollar-denominated government bonds fell as much as 1.2 cents on Thursday after the latest dip in the country’s FX reserve figures put renewed pressure on the lira.

The Turkish central bank’s net international reserves stood at 157.29 billion lira ($27.94 billion) as of April 5 data showed, down from nearly 165 billion lira the previous week.

With the lira weakening to 5.74 per dollar in FX markets, Ankara’s dollar bonds due for 2030-2038 repayment all fell as much as 1.2 cents, Tradeweb data showed.

Reporting by Marc Jones; editing by Karin Strohecker

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