Decrease in banking sector deposits

The Central Bank of the Republic of Turkey (TCMB) announced money and banking statistics for the week ending January 19 yesterday. 

While the decline in Turkish Lira (TL) deposit interest rates continued, total deposits in the banking sector decreased by 11.3 billion liras compared to the previous week, falling to 15.415 trillion liras, and the decline in interest rates continued. According to data published by the TCMB, the interest rate on TL deposits with a maturity of up to 3 months fell below 50 percent to 49.98 percent. Meanwhile, in the same week, TL-denominated deposits in banks fell by 0.3 percent to 8.835 trillion liras.

Total foreign currency (FX) deposits in banks stood at 210.10 billion dollars last week, with 177.34 billion dollars of this amount held in the accounts of domestic residents.

982 MILLION DOLLAR INCREASE

When considering data adjusted for parity effects, an increase of 982 million dollars was observed in the total FX deposits of domestic residents as of January 19.

News Source: 12punto