January 30, 2020 / 11:48 AM / a month ago

Forex held by Turkish locals falls to $196.31 bln as of Jan 24

ISTANBUL, Jan 30 (Reuters) - Foreign currency deposits and funds, including precious metals, held by Turkish individuals and corporates fell to $196.31 billion as of Jan. 24, from a record $197.12 billion a week earlier, central bank data showed on Thursday.

Turks have flocked to hard currencies in the wake of a currency crisis in 2018 that saw the lira lose nearly 30% of its value against the dollar.

The central bank’s gross forex reserves fell to $77.51 billion as of Jan. 24, from $78.35 billion a week earlier, data also showed. (Reporting by Gdansk newsroom; Writing by Ali Kucukgocmen; Editing by Jonathan Spicer)

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