Rising gold exports to Iran curb Turkey deficit
September 05, 2012 01:40 AM
By Mark Bentley
Turkey is more than making up for a slide in exports to Europe with record gold sales to Iran, steadying its current account deficit and boosting lira bonds.
Sales of precious metals to Iran jumped to $6.2 billion this year through July from $21.9 million in the same period last year, accounting for 70 percent of Turkey’s increase in exports this year.
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