Transition from foreign currency to Turkish lira remains limited By Investing.com


© Reuters.

Investing.com – According to CBRT’s weekly statistics, in the trading week ending February 26 foreign currency deposit accounts of residents It decreased by $ 2.058 billion from $ 234.734 billion to $ 232.676 billion. The biggest share of total accounts household While deposit accounts fell at a very limited rate of $ 2 million in the last week, most of the sales were in corporate accounts. Corporate accounts Foreign exchange deposits decreased by more than 2 billion dollars in the last week to 83.930 billion dollars.

Foreign exchange deposit accounts, which decreased by 602 million dollars in total in January, decreased by 25 million dollars in February. There has been a decrease in foreign currency accounts, which reached record levels in 2020, in the last two months, but when we look at last year’s rise, these decreases show that there is not yet a very vivid demand for reverse substitution, that is, the transition from foreign currency to domestic currency.

Approaching 16% to the top of the last 1.5 years and being at 17% is at the breakeven point, and therefore the interest rate does not yield a good return, limiting the return from foreign currency to TL for now.

Author: Necdet Erginsoy

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