April 18, 2019 / 8:03 AM / a month ago

Turkish dollar bonds fall on fresh concerns over Turkey's reserves

DUBAI, April 18 (Reuters) - Turkey’s dollar-denominated sovereign bonds slumped on Thursday, weighed down by fresh concerns about the central bank’s foreign-currency reserves.

The country’s 2045 bond lost as much as one cent, according to Tradeweb data, undoing the previous day’s gains, as the lira slipped 1 percent.

The Financial Times reported on Wednesday that Turkey’s central bank had boosted its foreign currency reserves with short-term borrowed money, stoking worries that the country might be overstating its ability to defend itself in the event of a fresh lira crisis. (Reporting By Tom Arnold; editing by Sujata Rao)

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