The Turkish lira risks falling out of favor with local investors, compounding a depreciation that’s dragged the currency to successive record lows over the past month.
So far, they’ve helped take the edge off the rout, selling more than $5 billion of their foreign-currency deposits in the three weeks through Oct. 1, according to central bank data. While the numbers can get amplified by changes in exchange rates, the headline figure is still the biggest draw down in half a year.
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October 14, 2021 at 03:56PM
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The Fate of Turkey's Battered Lira Hangs With Local Investors - Bloomberg
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