Türkiye's de-dollarization advances as lira deposits hit 11-year high

Hurriyet Daily NewsParty-alignedCenter10 hr. ago

Turkish Treasury and Finance Minister Mehmet Şimşek highlighted recent progress in Turkey's de-dollarization efforts, noting that the share of Turkish Lira deposits in total deposits has reached its highest level in 11 years at approximately 62%. This increase occurred despite various economic shocks, according to a statement posted on his social media account. Şimşek attributed this progress to improved predictability and stronger investor confidence. He emphasized the government's ongoing commitment to reinforcing confidence in the lira, enhancing macro-financial stability, and achieving price stability as essential steps for sustained economic growth.

Bias read (Center): The article presents information about Turkey's de-dollarization efforts and the minister's comments without overtly favoring any particular political ideology. The framing remains neutral, focusing on factual developments and government policy goals rather than taking a clear ideological stance. It

Daily SabahParty-alignedCenter22 hr. ago

Türkiye's efforts to reduce reliance on the US dollar have seen progress, with Turkish lira deposits reaching their highest share of total bank deposits in about 11 years. Treasury and Finance Minister Mehmet Şimşek highlighted this development, noting increased policy predictability and stronger investor confidence as factors supporting the shift toward lira-denominated savings. According to data from the Central Bank of the Republic of Türkiye (CBRT), the share of Turkish lira deposits in total deposits reached approximately 62%, compared to around 31.6% in August 2023. However, total deposits in the banking sector decreased slightly, with lira-denominated deposits declining 2.4% while foreign currency deposits saw a minimal increase. Despite this, CBRT reported an increase in gross international reserves, including both foreign exchange and gold reserves.

Bias read (Center): The article presents factual economic data and quotes from the Treasury and Finance Minister regarding Türkiye's de-dollarization efforts. It provides balanced information on both lira and foreign currency deposit trends, along with updates on the country's international reserves. There is no overt偏