Treasury and Finance Minister Mehmet Şimşek said Thursday that Türkiye’s de-dollarization drive had made significant progress, with Turkish lira deposits rising to their highest share of total bank deposits in about 11 years.
Şimşek said increased policy predictability and stronger investor confidence have supported the shift toward lira-denominated savings.
“Despite multiple shocks, the share of Turkish lira deposits in total deposits has reached approximately 62%, the highest level in the past 11 years,” Şimşek wrote on the social media platform X.
The rate compared to about 31.6% share in August 2023.
“We will continue our policies to reinforce confidence in the Turkish lira, strengthen macro-financial stability and achieve price stability, which is the prerequisite for sustainable high growth,” he added.
Data released by the central bank Thursday showed total deposits in the banking sector fell 0.82% in the week ending July 3 to TL 31.37 trillion (about $670 billion) from TL 31.63 trillion a week earlier.
Lira-denominated deposits declined 2.4% to TL 17.10 trillion, while foreign currency deposits edged up 0.02% to TL 10.13 trillion.
Total foreign currency deposits stood at $256.9 billion, of which $217.7 billion belonged to domestic residents. Adjusted for exchange-rate effects, domestic residents’ foreign currency holdings fell by $3.25 billion during the week.
Separately, the Central Bank of the Republic of Türkiye (CBRT) said its gross international reserves rose by $10.49 billion to $159.69 billion during the same week.
Gross foreign exchange reserves increased by $7.70 billion to $61.95 billion, while gold reserves climbed by $2.79 billion to $97.74 billion.
