Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

Turkey's external assets down 7.3% from end of 2019, at $233.8B in March

by Anadolu Agency

ANKARA May 21, 2020 - 11:40 am GMT+3
(IHA File Photo)
(IHA File Photo)
by Anadolu Agency May 21, 2020 11:40 am
RECOMMENDED
A woman counts U.S. dollar banknotes inside a currency exchange shop, in Ankara, Türkiye, March 22, 2021. (AP Photo)

Türkiye scraps rate cap on individuals' FX-protected lira accounts

Foreign-exchange

Turkey's external assets hit $233.8 billion at the end of March, down 7.3% from the end of 2019, the Central Bank of the Republic of Turkey (CBRT) announced Thursday.

The country's liabilities against non-residents also fell 9.2% to hit $548.5 billion during the same period.

"The net IIP (international investment position), defined as the difference between Turkey's external assets and liabilities, posted minus $314.7 billion at the end of March, in comparison to minus $351.9 billion observed at the end of 2019," the central bank said.

Showing a snapshot in time, the NIIP – which can be either positive or negative – is the value of overseas assets owned by a nation minus the value of domestic assets owned by foreigners, including overseas assets and liabilities held by a nation's government, the private sector and its citizens.

Reserve assets, a sub-item under assets, were $92.1 billion at the end of March, down 12.8% from the end of last year.

Other investments, another sub-item under assets, totaled $90.5 billion, comprising 5.6% of the total assets in the same period.

"Currency and deposits of banks, one of the sub-items of other investment, recorded $43.8 billion, indicating a decrease of 7.8% compared to the end of 2019," the bank noted.

On the liabilities side, direct investment-equity capital plus other capital – as of the end of March – was $133.3 billion.

The figure was down 19.8% compared to the end of last year "with the contribution of the changes in the market value and foreign exchange rates."

In 2019, the average U.S. dollar/Turkish lira rate was around 5.68, while this March $1 was exchanged for TL 6.31 on average.

"Foreign exchange deposits of non-residents held within the resident banks recorded $32.4 billion at the end of March 2020, reflecting a decrease of 6.9% compared to the end of 2019," the bank said.

It added that Turkish lira deposits rose 7.4% to $14.6 billion.

The CBRT said that the total external loan stock of the banks amounted to $65.3 billion – down 2.3% – and total external loan stock of the other sectors was $96.5 billion, down 1.8% in the same period.

RECOMMENDED
A woman counts U.S. dollar banknotes inside a currency exchange shop, in Ankara, Türkiye, March 22, 2021. (AP Photo)

Türkiye scraps rate cap on individuals' FX-protected lira accounts

Foreign-exchange
  • shortlink copied
  • RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    external assets turkey
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    U.S. President Joe Biden (C) gestures as he and Hunter Biden (L) watch fireworks from the Truman Balcony of the White House in Washington, D.C., U.S., July 2022. (EPA Photo)

    Hunter Biden's alleged iCloud leak exposes inappropriate content

    hunter-biden
    A general view of Dr. Sun Yat-sen's Mausoleum in Purple Mountai, Nanjing, China. (Photo courtesy by Ahmet Faruk Işık)

    Seed of modern Turkish diplomacy in China: Nanjing city

    Nanjing

    Dani Alves remains in jail as new rape case's harrowing details unfold

    DANI-ALVES

    Armenia's Pashinian to attend President Erdoğan's inauguration

    türkiye-armenia-relations
    No Image
    Rare albino animals from around the world
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021