The size of the deposit with currency protection has decreased!

SAFAKNA TURKEY – Total FX-protected Turkish lira deposit accounts and participation accounts recorded their first weekly decline in the week ending 18 November.

Turkish lira deposit accounts and exchange-protected participation accounts, which stood at 1.47 trillion Turkish liras in the week ended November 11, fell to 1.46 trillion Turkish liras last week, according to data released by the Banking Regulation and Supervision Agency. .

For some time there was a horizontal movement around the level of 18.60 in the dollar / Turkish lira.

There was also a downward trend in the cost of currency-protected deposits to the budget. According to budget statistics released by the Ministry of Treasury and Finance, the direct value of FX-protected deposits to the budget in October was TL6.7 billion. Thus, the lowest monthly cost for 5 months turned out.

As of October, the total burden of exchange-protected deposits on the side of the Central Bank of the Republic of Turkey (CBRT), excluding cost and tax benefits, reached TL 91.6 billion.

Minister of Finance and Treasury Nureddin Nebati, in his speech to the Parliamentary Commission on Plan and Budget in early November, said that the cost of applying for an exchange-protected deposit with the Central Bank of the Russian Federation could be below the 91.6 billion Turkish lira assumed by the Ministry of Finance.

Nebati said that the system of the Central Bank of the Republic of Turkey is different from the system of the Treasury, so he cannot disclose the figures, and pointed to the presentation that the bank will make to the commission on December 2.