Turkish cenbank net FX position dropped $11.2 bln on Wednesday, balance sheet shows
ReutersMar 21, 2025 12:16 PM
ANKARA, March 21 (Reuters) - Turkish central bank's net FX position dropped by $11.2 billion on Wednesday, after the lira dropped as much as 12% following the detention of Istanbul's mayor, according to the bank's balance sheet.
The majority of the fall in reserves - some $10 billion according to bankers calculations - were sold to shield Turkish lira from extreme volatility that day, bankers say.
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