Foreign Currency Deposits Increased by 1.4 Billion Dollars Last Week

Significant Increases in Foreign Currency Deposits Continue

In Turkey, while there is a continued decrease in Currency Protected Deposits, a remarkable rise is observed in foreign currency deposits.

Decrease in Currency Protected Deposits

According to data from the Banking Regulation and Supervision Agency, the Currency Protected Turkish Lira Deposit and Participation Accounts (KKM) decreased by 27 billion 90 million TL in the week of October 10, 2023, falling to 239 billion 543 million TL.

Growth in Foreign Currency Deposits

The Central Bank of the Republic of Turkey (TCMB) published its Weekly Monetary and Banking Statistics report for the week of October 10. According to this report, the total foreign currency deposits of residents in Turkey were recorded at 208 billion 589 million dollars as of October 10, 2023. This represents an increase of 3 billion 107 million dollars compared to the previous week's level of 205 billion 482 million dollars.

Details: Real and Legal Persons

The foreign currency deposits of real persons increased by 2 billion 573 million dollars, reaching 130 billion 868 million dollars, while the foreign currency deposits of legal persons rose by 534 million dollars to 77 billion 721 million dollars.

Parity Effect and Deposit Increase

There was also an increase of 1 billion 445 million dollars in foreign currency deposits of residents after adjusting for the parity effect. When adjusted for parity effect, the foreign currency deposits of real persons increased by 606 million dollars, while the foreign currency deposits of legal persons rose by 839 million dollars.