- BIST10011,798+3.22%
- USD49.55+0.21%
- EUR55.57-0.09%
- GOLD4,147.80-0.30%
- INTEREST37.00%-1.00
- BITCOIN82,307+0.57%
- October 20, 202618°
- BIST10011,798+3.22%
- USD49.55+0.21%
- EUR55.57-0.09%
- GOLD4,147.80-0.30%
- INTEREST37.00%-1.00
- BITCOIN82,307+0.57%
- October 20, 202618°
S&P: Turkish households' confidence in the lira stays resilient despite fund probe
According to S&P Global Ratings, the share of foreign currency deposits in total deposits stood at 38.7% in September, unchanged from the start of the year, with money leaving funds largely moving into lira deposits.
S&P Global Ratings said Turkish households' confidence in the lira has remained resilient throughout the year. As of September, the share of foreign currency deposits in total bank deposits was 38.7%, unchanged from the start of the year.
The impact of the fund investigation that began in September and the liquidation of some investment funds has been limited, it said. Although forced asset sales caused a sharp correction in equities and the liquidation of about $18 billion in funds, the central bank's swift liquidity support contained the fallout. The fact that outflows went largely into lira deposits rather than foreign currency suggests no broader loss of confidence in the lira.
S&P expects the energy price shock that followed the war in the Middle East to push inflation higher, forecasting average inflation in Türkiye of 30.9% this year and 21.7% in 2027.
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