Turkiye’s Central Bank (TCMB) has released its monthly statistics on Foreign Exchange Deposits with Protection (DDKKM). The stock balance of gold/foreign exchange-converted DDKKM decreased by $5 billion in May compared to the previous month. TCMB disclosed the results of Foreign Exchange Deposits with Protection (DDKKM) and Turkish Lira Deposits/Participation (TL KKM) accounts.
According to data on TCMB’s website, the DDKKM stock balance, revised from $72.8 billion at the end of April to $72.9 billion, declined to $67.9 billion by the end of May.
Individual DDKKM stock balance decreased from $51.4 billion to $48.7 billion, while corporate DDKKM stock balance dropped from $21.4 billion to $19.2 billion.
Meanwhile, the TL KKM stock balance saw a significant decline of ₺28 billion in just one month, decreasing from ₺65.1 billion to ₺37.1 billion by the end of May.
This reduction in foreign exchange and TL deposits highlights evolving market dynamics and could impact monetary policy decisions moving forward. Stay informed for further updates on financial trends and implications for economic stability.
Source: Dunya.com / Prepared by Irem Yildiz