Turkish locals’ forex and gold holdings rise $3.77bn By Reuters August 12, 2022, 5:54 AM Creative Commons Turkish local corporates bought $4.27 billion last week, when adjusted for the parity effect, central bank data showed Turkish locals’ forex and gold holdings rose $3.77 billion when adjusted for the parity effect to stand at $216.86 billion by August 5, data showed on Thursday, as corporates bought hard currencies. Turkish local corporates bought $4.27 billion last week, when adjusted for the parity effect, central bank data showed. Individuals sold $498 million in the same period. The total forex holdings stood at $212.70 billion on July 29. Turkish locals’ forex and gold holdings hit a record high of $238.97 billion in December as Turks converted savings during a currency crisis that saw the lira lose 44% against the dollar last year. The currency is down some 27% this year. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
