The net reserves of the Central Bank of the Republic of Turkey (CBRT) have started to increase

What does depreciation of the Turkish Lira mean

According to the CBRT data, gross reserves declined to $99.8 billion in the week of June 9. In the previous week, gross reserves were $100.5 billion.

Excluding swaps, net reserves were -$59.9 billion last week, compared to -$61.2 billion the previous week.

The downward momentum in foreign currency deposits continued in the week of June 9. Domestic residents’ foreign currency deposits decreased by $1.8 billion to $173.7 billion. Adjusted for exchange rates, foreign currency deposits decreased by $1.6 billion.

Adjusted for exchange rates, foreign currency deposits decreased by $285 million for individuals and $1.4 billion for corporations.

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