Turkiye’s FX-Protected Deposits Balance Declines to $72.8 Billion in April

Central Bank Reports a $1.5 Billion Drop in FX-Protected Deposits, Reflecting Decreased Balances for Both Individuals and Corporates

The Central Bank of Turkiye announced a decline in the balance of Foreign Exchange-Protected Deposits (DDKKM) for April, with the total stock decreasing by $1.5 billion to $72.8 billion. According to the Central Bank’s data, the DDKKM stock balance, which was $74.3 billion at the end of March, dropped to $72.8 billion by the end of April.

Breaking down the figures:

  • The balance for individual DDKKM accounts fell by $500 million, from $51.9 billion to $51.4 billion.
  • Corporate DDKKM accounts saw a reduction of $1.1 billion, decreasing from $22.4 billion to $21.3 billion.

Additionally, the Turkish lira-denominated KKM stock balance experienced a significant decline in April, falling by ₺33.7 billion from ₺98.8 billion to ₺65.1 billion, equivalent to approximately $2 billion.

These figures indicate that the total balance of FX-Protected Deposits stands at approximately $75 billion.

Source: / Prepared by Irem Yildiz

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