- BIST10011,798+3.22%
- USD49.55+0.21%
- EUR55.57-0.09%
- GOLD4,150.70-0.23%
- INTEREST37.00%-1.00
- BITCOIN82,534+0.84%
- October 20, 202618°
- BIST10011,798+3.22%
- USD49.55+0.21%
- EUR55.57-0.09%
- GOLD4,150.70-0.23%
- INTEREST37.00%-1.00
- BITCOIN82,534+0.84%
- October 20, 202618°
Lira or foreign currency? S&P says Turks' confidence in the lira remains resilient
According to S&P Global Ratings, the share of foreign currency deposits in Türkiye stood at 38.7% in September, unchanged from the start of the year, with money from liquidated funds moving mostly into lira deposits.
For those with savings in Turkish banks, S&P Global Ratings points to a telling figure: as of September, foreign currency deposits made up 38.7% of total bank deposits, the same as at the start of the year. According to the agency, household confidence in the lira remains resilient.
Even the fund investigation that began in September and the liquidation of about $18 billion in funds did not trigger a flight to foreign currency: the central bank's swift liquidity support limited the impact, and the money released went largely into lira deposits.
S&P expects the energy shock that followed the war in the Middle East to push prices up, forecasting average inflation in Türkiye of 30.9% this year and 21.7% in 2027.
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