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BGC Partners: TURKEY - FX RESERVES & FLOWS UPDATE: FX deposits declined, foreigners sold portfolio, banks’ FX borrowings decreased, and CBT net reserves increased…
Total non-bank FX deposits in the Turkish banking system decreased by US$1.6bn during the week of August 23, following the US$141mn decrease in the previous week. We should note individuals have been sellers of FX for the past two weeks, after being buyers of FX for fifteen consecutive weeks, while corporates’ FX deposits also decreased last week. As such, non-bank FX deposits increased by US$2.7bn since 29-Mar and by US$25.0bn year-to-date.
Provider
BGC Partners
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
Cagdas Dogan
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