Capital outflows further reduce Turkey’s reserves in March

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International reserves in Turkey fell sharply in March on capital outflows, in spite of the economy’s narrower current account deficit, central bank data shows.

Official reserves at the Central Bank of the Republic of Turkey (CBRT) decreased by $5.7 billion in March, more than 6% of total reserves, according to the balance of payments statistics released today (May 13). The CBRT’s last money and banking statistics update says gross foreign exchange reserves stood at $72.6 billion on May 3, 2019

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