Companies’ FX assets rise in October 2021

ANKARA

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.