Record in foreign currency deposits: level in 2001exceeded

According to the data released by the Central Bank, foreign currency deposits were recorded at $ 230.9 billion in the week of December 3. The foreign exchange deposit rate, which stands at 62.2 percent, means that the level of 61.5 percent in 2001, when there was an economic crisis, has been exceeded.

The share of foreign currency deposits of domestic residents has risen to a record high. According to the data of the Central Bank of the Republic of Turkey (CBRT), as of December 3, foreign currency deposits of domestic residents amounted to $ 230.9 billion, down 1.1 billion compared to the previous week.

The share of foreign currency deposits in total deposits rose to a record high of 62.2 percent. Finally, in October 2001, the share of foreign currency deposits was 61.5 percent.

According to Bloomberg, this rate has surpassed the level of 61.5 percent during the 2001 crisis.

The lowest level of foreign deposits was recorded in 2011 at 27.4 percent.

On the other hand, the trend of foreigners selling TL assets in swap markets continued last week. According to the calculation made from the Central Bank and BRSA data, the amount of TL swaps made by foreigners with Turkish banks decreased by $ 2 billion to $ 2.9 billion last week.

Over the past 13 weeks, the outflow has reached $ 10.6 billion. In the week of March 19, the foreign exchange position was at the level of 24 billion dollars.