KKM Balance Drops to $21.6 Billion in March
Decline in Exchange Rate-Protected Deposit Balances in Turkey
The Central Bank of the Republic of Turkey (CBRT) has released the latest figures regarding the stock balances of exchange rate-protected deposits and participation accounts (DDDKM) alongside Turkish Lira-Protected Deposit and Participation (TL KKM) accounts.
According to the data, there has been a notable decline in the total stock balance of DDDKM, which fell from $24.2 billion in March to $21.6 billion. This represents a decrease of approximately 11%.
Breaking it down further, the stock balance for real persons saw a significant drop from $1.9 billion to approximately $20.6 billion. Meanwhile, the balances held by legal entities also declined, tumbling from $700 million to $3.7 billion and settling at around $3 billion.
These figures highlight a trend of declining interest in exchange rate-protected financial products, raising questions about the implications for the Turkish economy and financial stability. As the CBRT continues to monitor these trends, stakeholders will be keen to see how they impact broader economic conditions and deposit behaviors in the near future.
