Forex held by Turkish locals rise to $148.8bn

 Forex held by Turkish locals rise to $148.8bn
(Picture for illustrative purposes only)
Published: 23 February 2017 - 12:10 p.m.
By: Reuters

Foreign currency deposits held by local investors in Turkey rose to $148.8 billion in the week ending Feb. 17 from $147.09 billion a week earlier, central bank data showed on Thursday.

In December, Turkish President Tayyip Erdogan made a call for Turks to convert their foreign currency holdings to the local currency in a bid to support lira. The lira has this month rebounded from sharp losses at the start of 2017. 

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