Foreign exchange accounts in Turkish Banks decrease by $ 1.1 billion
In the third week of exchange rate-protected TL deposits application, the foreign exchange deposits of natural persons, i.e. citizens, declined by $ 1.1 billion. Exchange rate protected deposits (KKM), which were commissioned on December 20 to ‘break the dollarization‘ after the dollar /TL had reached its historical level by exceeding 18, aim to ensure the possible return on foreign currency can be reached by remaining in Turkish lira assets.
According to the Central Bank’s weekly monetary and bank statistics, foreign currency deposits of citizens fell by 1.6 billion to 145.5 billion dollars in the week of January 7. The decrease, adjusted for the effect of parity, is $ 1 billion 70 million.
In December 24, the week when the exchange rate-protected TL deposits were activated, the foreign currency deposits of natural persons had decreased by $ 136 million, free of the parity effect, and increased by $ 351 million in the week of December 31.
The foreign exchange accounts of legal entities also seem to have been somewhat solved during the week of January 7. In the said week, foreign currency deposits of legal entities fell by 1.2 billion to 88.9 billion dollars. The decline, free of the parity effect, was $ 1.1 billion. The previous week, the parity-free decline on the part of legal entities was $ 2.9 billion.
