Macro and Politics
Tacirler Investment
* The CBT will release weekly foreign portfolio flows, money & banking statistics, and international reserves for the period of October 24 – 31 @ 14:30 local time. Based on our calculations using the CBT’s analytical balance sheet, we estimate that during the week of October 24 – 31, gross FX reserves dropped by USD1.7bn to USD183.9bn. To recall the previous week’s data: In the week of October 17 – 24, there was a net foreign outflow from the equity and the bond market (excluding repo transactions) at an amount of USD118.5mn and USD441.8mn, respectively. Moreover, during the same period, the residents’ FX deposits dropped by USD1.1bn (excluding gold accounts and adjusted for the EUR/USD parity effect), while their total FX deposits (including gold, price adjusted) decreased by USD1.3bn. In terms of official reserves, the CBT’s gross FX reserves slid by USD12.9bn to USD185.6bn and net international reserves slumped by USD11.8bn to USD67.6bn.