ISTANBUL—Turks deserted their native foreign money financial savings for U.S. {dollars} and different foreign-currency deposits over considerations in regards to the nation’s faltering economic system, propelling the Turkish lira to its worst slide in years.
Households elevated their deposits of overseas foreign money in Turkish banks final week by Nov. 19 by practically $1 billion, in accordance with knowledge launched by the Turkish central financial institution on Thursday. About 59% of retail financial institution deposits are actually in foreign currency echange, up from practically 57% the week earlier than.