Investing.com – The sharp decline in TL assets after the dismissal of CBRT Chairman Ağbal last week also accelerated foreign outflow. According to the CBRT’s weekly securities statistics, foreign investors sold net 813 million dollars of stocks and 1.1 billion dollars of government securities in the trading week of March 26. The weekly outflow of close to $ 2 billion was the hardest weekly breakout in nearly 15 years. Foreign investors kept their bond purchases while exiting regular stocks since the beginning of the year, but with the bond sale in the last week, almost all of the yearly purchases were returned.
Due to the uncertainties regarding the monetary policy, there were sharp increases in swap rates on an overnight and weekly basis last week.
With the effect of the exchange rate, there were record sales of 8.9 billion dollars on a weekly basis in foreign currency deposit accounts.
TL deposits increased from 1 billion 515 million lira to 1 billion 583 billion in the last week. Although there is a slight increase in TL deposits, it is seen that the increase in foreign currency deposits is not used much in TL accounts.
Author: Necdet Erginsoy
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