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Turkey's Central Bank Prepares to Use Gold Reserves to Defend the Lira
Investing.com – According to Bloomberg News, citing sources familiar with the matter, the Central Bank of Turkey is preparing an expanded toolkit to counteract the shocks to the lira caused by volatility related to the Iran war, including the possible use of its large gold reserves.
Sources said the central bank has held discussions about conducting gold-for-foreign exchange swap transactions in the London market. These individuals requested anonymity because the discussions are private.
The Central Bank of Turkey declined to comment.
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