Dollar Frenzy That Jolted Lira Starts to Dissipate Among Turks
By Constantine Courcoulas
May 9, 2019, 10:27 AM EDT Updated on May 10, 2019, 1:50 AM EDT
At least one thing in Turkey is moving in the right direction: locals have stopped hoarding dollars and euros.
Households and companies sold a net $1.2 billion of hard currency in the week ended May 3, the latest central bank data show. That’s the fourth straight week of sales and takes a retreat in their foreign-currency holdings over the past month to just under $3 billion.
More:Dollar Frenzy That Jolted Lira Starts to Dissipate Among Turks - Bloomberg
