June 18, 2020 / 11:55 AM / a month ago

Forex held by Turkish locals rises to record high as of June 12 -cenbank

ISTANBUL, June 18 (Reuters) - Forex deposits and funds, including precious metals, held by Turkish locals corporates and individuals rose to a record high of $202.91 billion as of June 12, data from the central bank showed on Thursday.

Turks have flocked to hard currencies and precious metals since a currency crisis in 2018 which at one point more than halved the value of the lira against the U.S. dollar. Forex held by locals stood at $201.01 billion a week earlier.

The central bank’s gross forex reserves fell to $55.48 billion as of the same date, from $55.61 billion a week earlier, data also showed. (Reporting by Ali Kucukgocmen Editing by Daren Butler)

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