Turkey’s foreign holdings amount to USD354.8B at end of September
Date
11/21/2024 12:20:17 AM
(MENAFN) Turkey’s foreign holdings amount to USD354.8 billion at the close of September, rising 6.7 percent compared to the close of the previous year, the nation’s Central bank stated on Tuesday.
The nation’s liabilities against non-citizens posted a 3.3 percent rise to USD672.9 billion, the figures revealed.
The total international investment position (IIP) – holdings minus liabilities – amounted to minus USD318.1 billion at the close of September versus minus USD318.6 billion at the close of the previous year.
Reserve holdings amounted to USD152.1 billion with a surge of 7.9 percent, while other investments saw a 4.5 percent rise to USD129.8 billion through the exact same time.
Currency deposits of banks increased 7.4 percent to USD50 billion at the exact same period.
Direct investment under liabilities dropped 1.8 percent since the close of the previous year and stood at USD190.9 billion at the close of September, “with the contribution of the changes in the market value and foreign exchange rates,” the bank stated.
At the same time, portfolio investment surged 23.6 percent to USD119.1 billion, the data showed.
Meanwhile, the overall foreign loan stock of Turkish banks climbed 12.6 percent to USD70.5 billion and that of the other divisions surged 1.3 percent to USD102.4 billion.
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