Non-Financial Company Net FX Position Recorded a $132.3 Billion Deficit in October

Forex - The net foreign exchange position of non-financial firms recorded a deficit of 132.3 billion USD in October.

According to the Central Bank of the Republic of Turkey (CBRT), assets decreased by 1.504 billion USD, while liabilities decreased by 544 million USD based on September 2024 data. The Net Foreign Exchange Position Deficit amounted to 132.342 billion USD, increasing by 960 million USD compared to the September 2024 period.

The statement provided the following information: "When examining the asset distribution for the October 2024 period; compared to the previous month, domestic bank deposits and securities decreased by 3.838 billion USD and 95 million USD, respectively, while export receivables and direct capital investments abroad increased by 1.682 billion USD and 747 million USD, resulting in a total asset decline of 1.504 billion USD. In the liability distribution; compared to the previous month, cash loans obtained from the domestic market and import debts increased by 335 million USD and 86 million USD, respectively, while cash loans obtained from abroad decreased by 965 million USD, leading to a total liability decrease of 544 million USD.

When examining the maturity structure of liabilities; in the October 2024 period, short-term loans obtained from the domestic market increased by 828 million USD compared to the September 2024 period, while long-term loans decreased by 493 million USD. In loans obtained from abroad, short-term loans increased by 100 million USD, while long-term loans decreased by 978 million USD.

In the October 2024 period, short-term assets amounted to 135.890 billion USD, while short-term liabilities stood at 110.246 billion USD. The Short-term Net Foreign Exchange Position Surplus was recorded at 25.644 billion USD, decreasing by 3.179 billion USD compared to the September 2024 period. The share of short-term liabilities within total liabilities is at 37 percent."