Istanbul leads in foreign exchange deposit share

Istanbul leads in foreign exchange deposit share

ISTANBUL
Istanbul leads in foreign exchange deposit share

Turkish metropolis of Istanbul leads the country in terms of foreign exchange deposit share, according to the Banking Regulation and Supervision Agency’s (BDDK) data on the country’s province-wide foreign currency wealth.

Haberin Devamı

 

Revealing significant trends in FX holdings across the country, BDDK announced that the megacity of Istanbul, as the country’s financial capital, emerged as the leader with a total foreign currency deposit volume of 2.5 trillion Turkish Liras.

 

Following Istanbul, the capital city of Ankara emerged as the province with the second highest total foreign currency deposits with 765.7 billion liras, traced by the western city of İzmir with 289.8 billion liras and the Mediterranean tourism hub of Antalya at 202.9 billion liras.

 

Istanbul’s per capita foreign currency deposits reached 164,000 liras in 2024, a sharp increase from 15,324 liras in 2023, marking an annual growth of 5.59 percent.

 

On the other end, the eastern Hakkari province recorded the lowest per capita foreign currency deposit at 5,754 liras, followed by the southeastern city of Şanlıurfa 5,958 liras and Şırnak with 5,971 liras.

 

The most striking increase in per capita FX deposits occurred in the eastern city of Batman, which also saw a 50.4 percent rise in FX deposits the past year, bringing the total figure to 9.6 million liras.

 

Ardahan, despite having the lowest overall FX deposit volume in Türkiye with 1.1 million liras, also recorded a significant increase in per capita FX deposits, making it the second-fastest-growing province.

 

Bilecik also recorded a 44 percent increase in FX deposits, reaching 5.8 million liras in total.

 

While most provinces continued to accumulate foreign currency, only three cities — the southeastern city of Siirt, the northwestern province Yalova and the southern city of Hatay — saw a decline in their FX deposits.

 

While economic policies raised interest in the Turkish Lira, outflows from Currency Protected Deposits (KKM) dipped below 1 trillion liras, the data suggested.