Bloomberg News reported on Thursday that Turkey sold almost all of its U.S. Treasury holdings in March as part of a strategy to prop up its currency during the Iran crisis.
“The amount of Treasuries held by Turkey fell to $1.8 billion by the end of March, down from $16 billion the previous month,” Bloomberg reported, citing “estimates based off official U.S. data.” These estimates included both Turkey’s central bank and private entities.
In addition to selling off its U.S. securities, the Central Bank of the Republic of Turkey has been selling other foreign exchange holdings, selling its gold reserves, and tightening its financing rules.
These…
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