The market tells us foreigners trust Turkish Lira more than Turks do

When we look at the financial market we see that foreigners trust Turkish Lira more than Turks do. 15 percent interest in TL has helped prevent the purchase of dollars either. It may sound strange but despite the positive view of foreigners on the Turkish lira, the Turks do not trust the lira.

Residents and companies in Turkey continue to stay away from the local currency;  Locals increase their foreign currency deposits by $ 2.5 billion in the week ending June 2nd.

In the economy, with accelerated increase in dollarisation, foreign currency deposits have risen to $ 164.8 billion almost a record based on recent data and despite 15 percent interest paid for deposit accounts in TL (which makes the lira attractive for foreign investors) this tendency is still in effect

SOURCE: MEDIA