Turkish Central Bank Reserves Drop Unexpectedly in March

Turkey’s foreign-currency reserves are plunging -- but officials aren’t saying why.

The central bank’s net international reserves fell $6.3 billion in the two weeks through March 15 to $28.5 billion, according to data published Thursday. That’s the biggest drop since January 2014, when the regulator was forced into raising rates in an emergency meeting to prop up the lira.