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Turks Hoard Dollars as Lira Heads for Biggest Tumble in 14 Years

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As Turkey’s security risks escalate and squabbling politicians threaten early elections, even Turks are bolting from the lira.

Households and companies have increased foreign-currency savings to 43 percent of total deposits, a level not seen in a decade, according to the latest data from the Banking Regulation and Supervision Agency in Ankara. The lira has plunged 16 percent against the dollar this year, the most for the period since 2001.