Turkey acknowledges reserves build-up necessary to stabilise lira
Currency plummeted on March 22 on weak global economic data
The Central Bank of the Republic of Turkey attempted to stabilise the lira today (March 25), restating its commitment to price stability and international reserves accumulation.
The CBRT said it is “decisive about its policy towards reinforcing its reserves,” and added “recent fluctuations in gross reserves are driven by ordinary transactions and periodic factors, and there are no unforeseen incidences”.
After the statement’s publication, the lira recovered part of the losses it recorded on
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