Turkey Sold About 120 Tons of Gold in Three Weeks to Support the Lira
The report says the sales were worth up to $20 billion, with roughly 70 tons sold last week as authorities sought to stabilize Turkey’s currency.
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Terms & Concepts
Gold reserves: Official gold holdings held by a country, often used as part of foreign exchange reserves and sometimes sold to support currency stability.
Lira: Turkey’s national currency, whose value can be influenced by central bank actions, reserve management, and market confidence.