Turkey Purchases U.S. Treasury Bonds Again After 10 Years

It has been reported that Turkey has started buying U.S. Treasury bonds again after about 10 years. It was stated that these purchases aim to strengthen the reserve policy. According to a news report on Bloomberg News, the Central Bank bought Treasury bonds as part of its efforts to normalize the reserve policy. It was also noted that the foreign exchange reserves are currently at a healthy level. Thus, it was highlighted that the retreat that began in 2016 after increasing tension with the U.S. has come to an end. According to U.S. Treasury data compiled by Bloomberg, the amount of U.S. Treasury bonds in Turkey’s reserves increased by $10 billion in the past year, reaching $12 billion. The largest purchases, totaling $6 billion, took place in October before the U.S. elections.