Firms’ FX assets rose in March

Firms’ FX assets rose in March

Firms’ FX assets rose in March

The Central Bank data on the foreign exchange assets and liabilities of non-financial companies showed that those firms’ assets increased by $349 million, while their liabilities decreased by $5.9 billion in April from March.

Accordingly, the net foreign exchange deficit was $105 billion indicating a decrease of $6.3 billion from March.

On the asset side, while deposits held in domestic banks decreased by $756 million, export receivables and direct investments abroad increased by $822 million and $282 million, respectively. Accordingly, assets recorded an increase of $349 million.

On the liability side, import payables increased by $1.5 billion, but domestic loans and external loans (excluding trade credits) decreased by $5 billion and $2.4 billion, respectively. Consequently, liabilities recorded a decrease of $5.9 billion.

In April, short-term domestic loans decreased by $185 million, the Central Bank data also showed.