Foreign investors still selling Turkish papers
1 day ago
Foreign investors sold $4.8bn worth of Turkish papers in the two-week period between March 14 and March 28, central bank data showed on April 7.
On March 19, Istanbul mayor Ekrem Imamaoglu, the main political rival to Turkey's President Recep Tayyip Erdogan, was detained by officers who mounted an early morning raid on his home.
Sales continued in the week ending April 4 while April 7 brought additional sales with the Donald Trump tariffs tumult hitting global markets. Data for the week to April 4 will be released on April 10 and this week’s data will come out on April 17.
The March 28 data was not released on April 3 due to a week-long Ramadan holiday for government personnel.
Foreign investors sold $444mn worth of equities in the week ending March 21 and another $652mn of stocks in the week ending March 28.
They further sold $440mn worth of government’s lira papers in the first week and $2.4bn worth of papers in the second week.
Additionally, they sold $551mn worth of Treasury eurobonds across the two weeks in addition to $252mn worth of eurobonds sold by the private sector.
As of March 28, foreigners still held $29bn worth of Turkish equities in addition to $16bn worth of domestic government papers and $74bn worth of Turkish eurobonds.
Table: Weekly data issued by the central bank.
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