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21.05.26 - 18:03
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Turkey Liquidated Almost All Of Its US Treasuries In March To Defend Crashing Lira (ZeroHedge)
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Turkey Liquidated Almost All Of Its US Treasuries In March To Defend Crashing Lira
Two months ago, at the end of March, we reported that Turkey was aggressively dumping its gold reserves in a panic scramble to obtain dollar funding, which Erdogan's regime was using to keep the Turkish lira from crashing, and to also pay for energy imports which had suddenly soared in price as a result of the Iran war.
The violent selling by Turkey (and other emerging markets) was behind the brutal plunge in gold prices, which tumbled by more than $1000 from near all-time highs at the start of the war to the low 4000s by the time Turkey had done selling much of its gold.
Then earlier this week, we got another confirmation of Turkey's wild liquidation spree when the latest central bank data showed that Turkey's foreign reserves had their biggest monthly decline on record in March, as the Iran war triggered global selloffs in emerging market assets and strained the lira.
According to balance-of-payments dat...
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22.01.26 - 13:48
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Turkey Slashes Interest Rate By 100 Bps (AFX)
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ANKARA (dpa-AFX) - Turkey's central bank reduced its benchmark rate by 100 basis points on Thursday as underlying trend of inflation continued to ease.The Monetary Policy Committee of the Central ......
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11.12.25 - 14:00
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Turkey Slashes Interest Rate By 150 Bps (AFX)
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ANKARA (dpa-AFX) - Turkey's central bank slashed its benchmark rate at a sharper-than-expected pace on Thursday as demand conditions continue to support the disinflation process. The Monetary Poli......
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