Turkish Banks Strengthen Their Foreign-Currency Defenses: Chart
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As far as its ability to withstand a depreciation in the lira goes, the Turkish banking system is in the best shape it’s been in months. Private lenders now hold $3.6 billion more foreign-currency than they owe, according to the latest data from the banking watchdog, to near a record. A multi-billion dollar hard-currency shortfall that mired state-run banks over the past year has narrowed to just $300 million.