FX assets of non-financial firms decline in September: Data

ANKARA

A teller shows US dollar bills at an exchange office in Ankara on July 20, 2023.

Foreign exchange assets of Turkish non-financial companies declined by $2.6 billion from August to $162.3 billion as of the end of September, according to data from the Central Bank.

FX liabilities of non-financial firms, on the other hand, increased from $294.5 billion to $298.1 billion over the same period.

“Accordingly, the net foreign exchange deficit recorded $135.8 billion, indicating an increase of $5.77 billion compared to August,” the bank said.

On the asset side, deposits held by domestic banks and export receivables decreased $2.7 billion and $255 million, respectively, according to the bank.

Direct investments abroad and securities increased by $239 million and $96 million, respectively, compared to August.

On the liability side, domestic loans and external loans — excluding trade credits — increased $2.5 billion and $1.3 billion, respectively.

Short-term domestic loans rose by $847 million, while long-term domestic loans were up by $1.7 billion, the bank data showed.

Short-term external loans of non-financial companies increased by $186 million and their long-term external loans went up by $452 million.

In September 2024, short-term assets recorded $133.9 billion, while short-term liabilities recorded $108.2 billion.

“Accordingly, the short-term foreign exchange surplus was $25.7 billion, indicating a decrease of $3.9 billion compared to August 2024,” the bank said.