Turkish Lira Deposit Volume Reached Historic Record Level
While hundreds of billions of liras of resources exiting money market funds turned toward Turkish Lira deposits, the total volume exceeded twenty and a half trillion liras.
With developments in the markets, a large portion of the hundreds of billions of liras that experienced outflows from money market funds over the past four weeks turned toward Turkish Lira deposits, and the total volume rose above twenty and a half trillion liras, registering a historic peak.
The Decline Process in Funds
According to data from the Central Bank of the Republic of Turkey, the size of money market funds registered a decrease of twenty-seven and a half percent over a four-week period.
The Increase on the Repo Side
During the same dates when outflows from money market funds were experienced, a distinct rise and increase was also recorded in the amount of money in repos.
The Attractiveness of Deposits
Despite expected interest rate cuts, it was observed that Turkish Lira deposits continued to maintain their attractiveness in investors' search for alternatives.