Turkey Revives US Debt Purchases After Decade-Long Hiatus
- Largest purchase was in month before US election in 2024
- Turkey had drawn down UST holdings during first Trump term
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Turkey started buying US Treasuries for the first time in almost a decade, according to a person familiar with the matter, marking the end to a drawdown that began in 2016 amid heightened tensions with the US.
The country’s central bank is purchasing US Treasury bonds as part of its efforts to normalize its reserves policy, with foreign-currency holdings now at a healthy level, the person said, asking not to be named because they weren’t authorized to comment publicly on the topic.