October Sees $6.1 Billion Drop in Currency/Gold Convertible KKM Stock Balance

In October, the total stock balance of the foreign exchange/gold protected deposit participation (DDKKM) decreased by $6.1 billion compared to the previous month. The Central Bank of the Republic of Turkey (CBRT) announced the stock balance results for DDKKM and Turkish lira deposit/participation (TL KKM) accounts. According to data available on the CBRT's website, the DDKKM stock balance, revised from $48.4 billion at the end of September to $48.5 billion, fell to $42.4 billion by the end of October. Consequently, the DDKKM stock balance has declined by $44.6 billion since the end of 2023. The individual DDKKM stock balance decreased from $35.9 billion to $32.3 billion, while the corporate DDKKM stock balance dropped from $12.6 billion to $10.1 billion. Meanwhile, the Turkish Lira KKM stock balance decreased from 2.8 billion TL to 1.3 billion TL.