Decline observed in KKM (Foreign Exchange Protected Deposits)

Following a stable trend in the exchange rate, it has been observed that the unwinding of foreign exchange protected deposits (KKM) has begun to accelerate. KKM recorded a decline of 36.4 billion TL in the week of May 10.

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Decline observed in KKM (Foreign Exchange Protected Deposits)

A rapid unwinding in foreign exchange protected deposits has been drawing attention over the last two weeks.

According to data from the Banking Regulation and Supervision Agency (BDDK), foreign exchange protected deposits recorded a decline of 36.4 billion TL in the week of May 10. The total volume of foreign exchange protected deposits has fallen below 2.2 trillion TL.

As reported by Bloomberg HT, this decline marks the fastest drop in KKM in approximately three months.

FELL TO 14 PERCENT

While the share of Turkish Lira deposits has risen from approximately 32 percent to 44 percent over the last eight months, the share of KKM has fallen from 26 percent to 14 percent.

The record level in foreign exchange protected deposits had reached 3.4 trillion TL.

News Source: 12punto