Turks' FX holdings drop $2.1bn, easing further from record
- The holdings stood at $235.06 billion a week earlier and reached a record above $236 billion earlier in January.
- foreign investors bought $140.5 million worth of Turkish government bonds in the week to Feb. 5, and sold $183.2 million worth of stocks.
ISTANBUL: Turkish locals' forex and precious metals holdings fell by $2.13 billion to $232.93 billion as of Feb. 5, according to central bank data on Thursday, dipping further from a record high hit two weeks earlier.
The holdings stood at $235.06 billion a week earlier and reached a record above $236 billion earlier in January. The central bank is watching keenly for a reversal in this dollarization trend before it starts rebuilding its depleted FX reserves.
Data also showed foreign investors bought $140.5 million worth of Turkish government bonds in the week to Feb. 5, and sold $183.2 million worth of stocks.
Separately, data showed the central bank's gross forex reserves rose to $54.37 billion in the same period, from $53.37 billion a week earlier.
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