Turks' forex holdings drop to $204.9 billion

Turkish locals' forex and gold holdings dropped $5.53 billion in the week to Nov. 25 when adjusted for the parity effect to stand at $204.90 billion, data from the central bank showed on Thursday, with corporates leading the drop.

Turkish local corporates sold $3.59 billion last week, central bank data showed, while individuals sold $1.94 billion in the same period.

Turkish locals' forex and gold holdings hit a record high of $238.97 billion last December as Turks converted savings during a currency crisis that saw the lira lose 44% against the dollar last year. The currency is down some 29% this year.