According to the weekly data of the Central Bank of the Republic of Turkey, total foreign currency deposits increased by 780 million dollars in the week of April 15, adjusted for the parity effect. Compared to the previous week, foreign currency deposits of real persons decreased by 175 million dollars, while foreign currency deposits of legal entities increased by 956 million dollars.

 

Foreign currency deposits increased by more than $1 billion last week. According to the data of the Central Bank of the Republic of Turkey (CBRT), FX deposits of domestic residents increased by 1.12 billion dollars in the week of April 15. Looking at the currency protected deposits, which have been tracked for a while on the basis of reserves, it is seen that TRY 756.6 billion was collected in this instrument. The previous week, this size was 728.7 billion TRY.

 

After four weeks of strong external outflow following Russia's attack on Ukraine, limited foreign inflows into Turkish assets took place in the last week. The strong external outflow after geopolitical risks seems to have stabilized. While the regular foreign exchange sales of public banks continue, the lira continues to move in a narrow band.

 

At the current level, we will continue to follow the trends in the FX-linked product focused on dollarization and financial stability. While growth-oriented policies are expected to continue, it is seen that the fight against inflation has been transferred to a large extent from monetary policy instruments to fiscal policy and liraization strategy. The financial dollarization rate is at the level of 55.55% as of the week of April 8, we see a decrease from the rate of 56.22% in the previous week. This rate was at the level of 54.6% in the same period of the previous year.

Kaynak Tera Yatırım
Hibya Haber Ajansı