Turks Moving Savings to Foreign Currencies Impede Lira Rally

Updated on
  • Locals added $1.9b into foreign-exchange deposits last week
  • Currency has appreciated more than 5% since July 20 record low

Why Turkey Is a Nation Divided

The rally that made the lira one of the biggest winners of the hunt for higher-yielding assets is coming up against a domestic hurdle: Turks are starting to boost their foreign-currency holdings.

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