Investing.com – Domestic demand for foreign currency rose in 2020, both due to the rise in inflation and record rises in the currency. Foreign currency deposit accounts of households and companies residing in the country broke a record, exceeding $ 236 billion.
On a monthly basis, foreign exchange purchases, which reached a record level with 236.107 billion dollars in January, decreased by more than 1 billion dollars in the last week of the month and the accounts decreased to 235,058 billion dollars. In January, 602 million dollars of foreign currency sales were made on a monthly basis and there was a decline in foreign exchange accounts for the first time after August.
Today, CBRT published statistics for the first trading week of February. According to the center’s data;
Foreign currency deposit accounts of residentsIn the last week, a total of 2,132 billion dollars decreased.
Accounts of real persons It decreased by $ 1.379 billion from $ 149.520 billion to $ 148.141 billion.
Legal persons accounts It decreased by $ 753 million from $ 85.538 billion to $ 84.785 billion.
After the decline in January, residents sold foreign currency in the first week of February and the decline in total accounts accelerated in the last week. CBRT predicts that the transition to TL will increase with both the interest rate attraction and the decrease in the exchange rate.
Author: Necdet Erginsoy
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.