Turkey's central bank announced that its foreign exchange reserves had dropped by $160 million dollars, to $6.91 billion, in the first week of January. At the end of 1994, FX reserves totalled $7.07 billion. Total foreign exchange reserves held by commercial banks as of December 23 was $9.86 billion. Turkey's gold reserves reached $1.41 billion at the end of the first week in January.

Combined 1994 currency option volume on the Philadelphia Stock Exchange (Phlx) fell over 22 per cent from 1

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