Increase in foreign currency deposits: the highest level in history
Foreign currency deposits of domestic residents increased during the week of December 24, when the “exchange rate-protected TL term deposit” product was announced.
According to Central Bank data last week, when AKP President Recep Tayyip Erdogan announced the currency-protected TL deposit product on Monday, and the dollar / TL declined from 18.36 lira levels to 10.25 lira, the foreign currency deposits of domestic residents increased by $ 1 billion 458 million, free of the parity effect.
The total foreign exchange deposits, not adjusted for the parity effect, increased to $ 238 billion 974 million. Thus, foreign exchange deposits reached their historic highest level last week when the exchange rate-protected TL deposit product was introduced.
The foreign currency deposits of individuals decreased by $ 136 million, while the foreign currency deposits of legal entities increased by $ 1 billion 594 million. The biggest change in the foreign currency deposits of natural persons was experienced in dollar-denominated foreign currency deposits.
