Why Is Everyone Worried About Turkey's Foreign Reserves?
By Onur Ant April 18, 2019, 2:44 PM EDT
Turkey’s central bank won’t explain what’s behind the recent moves in its foreign currency reserves -- and that’s making investors nervous. The lira weakened more than any other currency on Thursday amid speculation that the central bank was using money borrowed from commercial banks in short-term swaps to inflate its foreign reserve figures. It sank nearly 2 percent on growing concerns before paring some of those losses.
More:Why's Everyone Worried About Turkey's Foreign Reserves? - Bloomberg