Turkey, financial markets: Record entry into Exchange Rate Protected Deposits

A record inflow to exchange rate protected deposit accounts was seen in the week ending Friday, April 28 (2023). According to BRSA data, record inflows to Exchange Rate Protected Deposit accounts occurred last week. The money transferred to these accounts increased by a total of TL 137.7 billion in the last week and amounted to TL 2.1 trillion.

The Banking Regulation and Supervision Agency (BRSA) has announced weekly banking sector data. According to this, the money accumulated in KKM accounts last week was 2 trillion 117 billion 590 million TL (108.6 billion dollars).

The amount accumulated in KKM accounts the previous week was realized as 1 trillion 919 billion 792 million TL. Thus, a total of 137 billion 798 million TL was transferred to exchange-protected accounts in banks in the last week.

In the last month, a total of TL 416 billion 887 million entered into KKM accounts. Since the beginning of the year, TL 747 billion 641 million has entered into KKM accounts.

ONE FIFTH OF TOTAL DEPOSITS

With the latest data, there has been an uninterrupted increase in KKM accounts for 16 weeks. The entry, which took place last week, was recorded as a weekly record. The ratio of deposits accumulated in KKM accounts to total deposits was 20.5 percent, while the ratio to TL deposits was 34.3 percent.