April 4, 2019 / 12:26 PM / 2 months ago

Foreign investors sold $1.4 bln Turkish bonds and stocks last week - central bank

ISTANBUL, April 4 (Reuters) - Foreign investors sold $601.5 million worth of Turkish stocks and $735.8 million of government bonds in the week to March 29, when a lira liquidity squeeze in London swap markets forced them to quit Turkish assets, central bank data showed on Thursday.

Last week, the Turkish lira overnight swap rate rocketed to as much as 1,200 percent as the currency came under pressure in the run up to Sunday’s local elections, prompting foreign investors to sell off holdings of Turkish stocks and bonds to close short positions. (Reporting by Behiye Selin Taner Writing by Ezgi Erkoyun Editing by Dominic Evans)

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