CBRT's reserves continue to melt!

The Central Bank of the Republic of Turkey (CBRT) has seen its net international reserves decline for four consecutive weeks. Last week, net international reserves decreased by 5.9 billion dollars, falling to 23 billion 651.5 million dollars.

The 4-week decline in net international reserves, which peaked at 40 billion 86.4 million dollars in the week ending December 22, 2023, has reached 16 billion 434.9 million dollars.

According to the CBRT's weekly data, as of January 19, net international reserves had fallen by 5 billion 845.83 million dollars compared to the previous week, down to 23 billion 651.5 million dollars. Net international reserves, which exceeded 40 billion dollars on December 22, 2023, had fallen to 34.95 billion dollars in the week of December 29, to 32.26 billion dollars in the week of January 5, and to 29.5 billion dollars in the week of January 12.

FOREIGN EXCHANGE RESERVES

The CBRT's total reserves decreased by 1 billion 708 million dollars in the week of January 19 compared to the previous week, falling to 138 billion 91 million dollars. According to the data, as of January 19, the CBRT's gross foreign exchange reserves fell by 1 billion 624 million dollars to 90 billion 366 million dollars.

Gross foreign exchange reserves stood at 91 billion 990 million dollars on January 12. During this period, gold reserves fell by 85 million dollars, from 47 billion 810 million dollars to 47 billion 725 million dollars.

The CBRT's total reserves fell from 139 billion 799 million dollars to 138 billion 91 million dollars in the week of January 19, a decrease of 1 billion 708 million dollars compared to the previous week.

FOREIGNERS BOUGHT STOCKS

Furthermore, according to the CBRT's weekly securities data, foreign investors bought 145.6 million dollars worth of stocks last week.

In the week of January 12, foreigners had made net stock purchases of 157.4 million dollars. Thus, the net inflow into stocks over two weeks reached 303 million dollars. According to the CBRT's weekly money and banking data, foreign currency deposits of domestic residents increased in the week of January 19. According to the data, the increase in foreign currency deposits of domestic residents, adjusted for parity effects, was 982 million dollars. The increase in foreign currency deposits of individuals, adjusted for parity effects, was 234 million dollars, while the foreign currency deposits of legal entities rose by 748 million dollars, adjusted for parity effects.

According to the weekly data from the Banking Regulation and Supervision Agency (BDDK), the decline in currency-protected deposit (KKM) accounts has slowed. According to BDDK data, in the week ending January 19, the volume of KKM fell from 2 trillion 529 billion TL to 2 trillion 502.6 billion TL. The total amount of currency-protected deposits decreased by 26.3 billion liras last week.

News Source: 12punto