Turkish Lira deposits up 202 million

ISTANBUL - Anatolia News Agency

Turkish Lira has gained value against the US dollars so far this year.

The Turkish Lira deposits in local banks increased 202 million liras in the first nine months of the year when compared with the same period a year earlier, according to data Anatolia news agency has compiled from the Development Ministry.

The figure increased to more than 3.8 billion liras this year in the January-September period, from about 3.6 billion liras in the first nine months of 2011.

Some 64 percent of the total is consisted of savings deposits surpassing 2.4 billion liras up from 2.3 billion liras.

This signals an increasing confidence in the local currency, which is performing high this year after a year of big losses, hitting 25 percent against the greenback.

Some 22.4 percent of the lira deposits consist of commercial deposits. The volume of commercial deposits has increased 2.9 percent, reaching nearly 860 million liras, up from 835.7 million liras in the same compared period.