Companies’ FX assets rise in October 2021

Companies’ FX assets rise in October 2021

Companies’ FX assets rise in October 2021

According to the data from the foreign exchange assets and liabilities of non-financial companies, assets increased by $5.47 billion while liabilities decreased by $382 million in October 2021, compared with September 2021, the Turkish Central Bank has announced.

Accordingly, net foreign exchange deficit recorded $116 million, indicating a decrease of $5.85 billion in the month from September 2021, the bank said in a statement yesterday.

On the asset side, export receivables, deposits held by domestic banks and direct investments abroad increased by $2.7 billion, $2.1 billion and $554 million, respectively, boosting assets by $5.47 billion. On the liability side, domestic loans and external loans (excluding trade credits) decreased by $557 million and $503 million respectively, while import payables increased by $678 million compared to September 2021, leading to a decrease of $382 million in liabilities.

In October 2021, short-term assets stood at $140 billion while short-term liabilities were $76.85 billion, according to the Central Bank.

The Central Bank also reported yesterday, that the CPI-based Reel Effective Exchange Rate (REER) index declined to 47.82 in December 2021 from 54.13 in the previous month.

Turkey, Economy, FX deposits,