Turkey’s $15 Billion Reserve Loss Was Biggest Since 2023 Vote

Turkey’s official reserves fell by $15 billion in March, the steepest decline since the 2023 presidential elections, reflecting the extent of concern that’s gripped investors after the jailing of a prominent opposition politician.

Balance of payments data, the broadest measure of trade in goods and services, showed a $4.1 billion deficit in March, compared with a revised shortfall of $4.3 billion the previous month, according to the Turkish central bank.