ANKARA: Forex and precious metal holdings of Turkish locals rose to a fresh record high of $234.10 billion as of Dec. 18, according to central bank data published on Thursday.

They stood at $231.54 billion the previous week.

President Tayyip Erdogan's pledge last month of economic reforms led foreigners to snatch up Turkish assets but locals have remained wary, continuing to buy hard currencies as a hedge against high inflation.

Separately, data showed the central bank's gross forex reserves rose to $49.80 billion as of the same date, from $47.41 billion a week earlier.