Turkey's non‑financial firms see foreign‑exchange deficit top $205 billion

Turkey's Central Bank reported that the net foreign‑exchange position of firms outside the financial sector widened to $205.608 billion in April, a rise of $9.44 billion from March. The increase was driven by a $1.508 billion drop in foreign‑currency assets and a $7.932 billion surge in liabilities.

Assets fell mainly due to declines in derivative holdings ($1.46 billion), domestic bank deposits ($1.17 billion) and securities ($40 million), while export receivables and direct overseas investments rose by $591 million and $571 million respectively. Liabilities grew because of higher foreign cash‑loan inflows ($3.858 billion), domestic cash‑loan inflows ($3.338 billion), import debts ($665 million) and derivative liabilities ($71 million). Short‑term assets stood at $148.573 billion against short‑term liabilities of $141.264 billion, leaving a short‑term net surplus of $7.309 billion, down $3.15 billion from the previous month. Short‑term liabilities represent about 36 % of total liabilities.