The melting continues! 24.5 billion lira outflow from KKM
The decline in the amount in foreign exchange-protected Turkish Lira deposit and participation accounts, known as KKM, has continued. KKM accounts decreased by 1 percent in the week ending February 16. Thus, the amount of outflow from KKM reached 24.5 billion TL.
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According to information in the weekly bulletin of the Banking Regulation and Supervision Agency (BDDK), foreign exchange-protected Turkish Lira deposit and participation accounts fell from 2 trillion 367.7 billion TL to 2 trillion 343.2 billion TL.
Thus, 24.5 billion TL flowed out of KKM.
Consequently, 1 trillion 039 billion TL has exited KKM accounts over 26 weeks.