Sebnem TURHAN

Weekly monetary and banking data from the Central Bank revealed that during the short two-day post-holiday trading day, personal and corporate foreign currency deposits increased by $2.73 billion, adjusted by the parity effect. Personal foreign currency deposits increased by $270 million, while corporate foreign currency deposits increased by $1.803 billion. After the measures taken by the Banking Regulation and Supervision Agency on June 24, the foreign currency deposits of legal entities, which had decreased in the first week, started to rise again.

According to the Central Bank’s weekly monetary and banking data, while individuals’ dollar-denominated foreign currency deposits increased by $127 million in the week of July 15, the dollar equivalent of US dollar-denominated foreign currency deposits euros increased by $157 million and the dollar equivalent of precious metal currency deposits increased by $28 million. Last week, the main demand for foreign currency came from legal entities. Legal entities’ dollar-denominated foreign currency deposits increased by $668 million and the dollar equivalent of euro-denominated foreign currency deposits increased by $1.48 billion. Residents’ total foreign currency deposits rose to $209.638 million. Last week, the euro/dollar parity fell below 1, while the dollar/TL rose.

Total reserves less than $100 billion

The Central Bank’s net international foreign exchange reserves, on the other hand, increased by $283 million from the previous week and reached $6.356 million in the week of July 15. However, net international reserves remained at their lowest level in 20 years. Central Bank Total Reserves (CBRT), on the other hand, increased by $714 million from the previous week to $99.365 million. Total reserves remain below $100 billion for two weeks. According to the data, as of July 14, the Central Bank’s gross foreign exchange reserves increased by $1.88 billion to $59.955 million.

Gross foreign exchange reserves stood at 58 billion 867 million dollars on July 8. During the said period, gold reserves decreased by $375 million, from $39.784 million to $39.409 million. Thus, the total reserves of the Central Bank increased by 714 million dollars the week of July 14 compared to the previous week, rising from 98 billion 651 million dollars to 99 billion 365 million dollars.

Short of foreign stocks and bonds

On the other hand, according to the Central Bank’s weekly securities statistics, the outflow of foreign investors from stocks and bonds continues. According to the data, foreign investors net sold $37.4 million in stocks and $41.9 million in GDBS last week. The foreigner has been selling continuously in stocks for 1.5 months and in GDBS for two weeks. The stock of non-residents, which was 14 billion,742.8 million on July 8, fell to 14 billion,388.2 million on July 14.

During the same period, non-resident GDDS inventory increased from $1,342.8 million to $1,293.8 million, while SIS inventory increased from $117.5 million to $118.6 million. Since the beginning of the year, total outflows of foreigners in stocks and government securities reached 5.3 billion dollars.

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