AIRLINK 62.25 Decreased By ▼ -0.23 (-0.37%)
BOP 5.33 Decreased By ▼ -0.03 (-0.56%)
CNERGY 4.46 Decreased By ▼ -0.12 (-2.62%)
DFML 15.45 Decreased By ▼ -0.05 (-0.32%)
DGKC 66.15 Decreased By ▼ -0.25 (-0.38%)
FCCL 17.39 Decreased By ▼ -0.20 (-1.14%)
FFBL 27.75 Increased By ▲ 0.05 (0.18%)
FFL 9.23 Decreased By ▼ -0.04 (-0.43%)
GGL 10.13 Increased By ▲ 0.07 (0.7%)
HBL 106.25 Increased By ▲ 0.55 (0.52%)
HUBC 122.01 Decreased By ▼ -0.29 (-0.24%)
HUMNL 6.55 Decreased By ▼ -0.05 (-0.76%)
KEL 4.55 Increased By ▲ 0.05 (1.11%)
KOSM 4.43 Decreased By ▼ -0.05 (-1.12%)
MLCF 35.98 Decreased By ▼ -0.22 (-0.61%)
OGDC 123.31 Increased By ▲ 0.39 (0.32%)
PAEL 22.95 Decreased By ▼ -0.05 (-0.22%)
PIAA 30.75 Increased By ▲ 1.41 (4.81%)
PIBTL 5.85 Increased By ▲ 0.05 (0.86%)
PPL 107.80 Increased By ▲ 0.30 (0.28%)
PRL 27.31 Increased By ▲ 0.06 (0.22%)
PTC 17.63 Decreased By ▼ -0.44 (-2.43%)
SEARL 53.25 Increased By ▲ 0.25 (0.47%)
SNGP 62.85 Decreased By ▼ -0.36 (-0.57%)
SSGC 10.74 Decreased By ▼ -0.06 (-0.56%)
TELE 9.15 Decreased By ▼ -0.05 (-0.54%)
TPLP 11.55 Increased By ▲ 0.11 (0.96%)
TRG 71.00 Increased By ▲ 0.14 (0.2%)
UNITY 23.71 Increased By ▲ 0.09 (0.38%)
WTL 1.29 Increased By ▲ 0.01 (0.78%)
BR100 6,945 Increased By 1.4 (0.02%)
BR30 22,830 Increased By 2.6 (0.01%)
KSE100 67,214 Increased By 71.8 (0.11%)
KSE30 22,113 Increased By 22.9 (0.1%)
Markets

Turks' FX holdings dip to $235bn, still near record

  • When adjusted with the parity effect, the data showed the hard currency holdings fell by only $27 million in the period.
  • The central bank is watching keenly for a reversal in this dollarization trend before it starts rebuilding its depleted FX reserves.
Published February 25, 2021

ISTANBUL: Turkish locals' forex and precious metals holdings fell to $234.73 billion in the week to Feb. 19, according to central bank data on Thursday, from $235.63 billion a week earlier.

When adjusted with the parity effect, the data showed the hard currency holdings fell by only $27 million in the period.

The FX holdings touched a record high of $236.11 billion in January, underlining Turks' efforts to hedge against double-digit inflation and an ailing lira, which lost 20% of its value against the dollar last year.

The central bank is watching keenly for a reversal in this dollarization trend before it starts rebuilding its depleted FX reserves.

Data also showed on Thursday that foreign investors bought $194.5 million worth of Turkish government bonds in the week to Feb. 19, and sold $122.8 million worth of stocks.

Separately, data showed the central bank's gross forex reserves rose to $53.86 billion in the same period from $53.72 billion a week earlier.

Comments

Comments are closed.