Turkey’s Wider-Than-Expected Current Account Gap Threatens Lira
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Turkey’s current-account deficit widened in March to its highest level this year as exports declined faster than imports, exposing the currency to the risk of a selloff.
The shortfall in the current account, the broadest measure of trade in goods and services, grew to $4.96 billion from $3.39 billion a year earlier, the central bank in Ankara said in a statement posted on its website Tuesday. The median estimate in a Bloomberg survey of economists was $4.3 billion.