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Behind Turkey's Gold Sales: The Biggest Ever Plunge In Foreign Reserves
Turkey's official reserves cratered by $43.4 billion in March. Part of the decline reflected state intervention to offset portfolio outflows. The current-account deficit, meanwhile, widened to $9.7 billion in March from $7.3 billion in February as a result of soaring commodity prices.
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Behind Turkey's Gold Sales: The Biggest Ever Plunge In Foreign Reserves
Turkey's official reserves cratered by $43.4 billion in March. Part of the decline reflected state intervention to offset portfolio outflows. The current-account deficit,…
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Turkey Sold Nearly All Its US Treasuries
Turkey liquidated nearly all of its holdings of United States Treasuries in March as Ankara moved aggressively to defend the lira