The Central Bank of Turkiye reports a notable decrease in Currency-Protected Deposit balances, with a $4.3 billion drop in foreign currency accounts and a significant reduction in Turkish lira deposits.
The Central Bank of Turkiye (TCMB) has reported a significant decrease in the balance of Currency-Protected Deposits (KKM) for June. The total balance of Foreign Currency-Indexed Currency-Protected Deposits (DDKKM) fell by $4.3 billion, dropping to $63.8 billion. This decline marks a decrease from $68.1 billion at the end of May.
According to the TCMB data, the balance of DDKKM held by individuals decreased by $3.2 billion, from $48.9 billion to $45.7 billion. Meanwhile, the balance held by institutions dropped by $1.1 billion, from $19.2 billion to $18.1 billion.
In addition, the balance of Turkish Lira Currency-Protected Deposits (TL KKM) also saw a substantial decline. In June, TL KKM deposits fell by ₺12 billion, decreasing from ₺37.1 billion to ₺25.1 billion, bringing the amount below $1 billion.
Overall, these figures indicate that the total balance of Currency-Protected Deposits is now approximately $65 billion. This drop reflects changes in the financial landscape and investor behavior, with notable reductions in both foreign currency and Turkish lira deposits.
Source: AA / Prepared by Irem Yildiz