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Turkey refuses from the dollar in favor of gold

Moreover, the mass buying of the yellow metal and the citizens, and the Central Bank of Turkey. In the third quarter, the regulator has acquired 30.4 tonnes of gold.

The cbrt conducts diversification of international reserves, trying zastrahovatsja on the background of aggravation of relations with Western countries, particularly the United States.

Observers note that last year Erdogan called on the population to prefer gold instead of US dollar, that is to keep their savings in precious metal and disposed to adhere to this position and the Central Bank.

While the Turkish Lira in recent times is not very suitable for the purposes of the savings assets. Since the beginning of October the Lira lost against the dollar of about 15%. Now all emerging-market currencies are under pressure, however, the visa conflict between Turkey and the United States have created an additional ground for speculative attacks.

It should be noted that lately their gold assets also increase Russia and China.


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