Turkey is reportedly considering raising the level of forex revenues that exporters must sell to the CBRT to as high as 50% from the current level of 25%, reported Reuters citing sources.
Turkey\u2019s current account balance registered a $5.15 billion deficit in February, widening $2.71 billion year-over-year, according to official data released on Monday. The Central Bank of the Republic of Turkey (CBRT) said the country’s 12-month rolling deficit stood at $21.84 billion in February.
The goods trade deficit rose by $3.9 billion annually to reach $6 billion. Services items showed a net surplus of $1.61 billion, increasing $874 million year-over-year. The gold- and energy-excluded current account posted a $2.17 billion surplus in February, up from a surplus of $624 million the same month of last year.
Economists surveyed by Anadolu Agency (AA) Finance expected a deficit of $5.6 billion in the current account in February. Meanwhile, the current account deficit for January was revised from $7.1 billion to $6.9 billion. The CBRT data further showed that some $4 million inflow was recorded from direct investments in February, while a net outflow of $765 million was realized from portfolio investments.
Analyzed by sub-items, nonresidents made net sales of $228 million in the stock market and $573 million in the government domestic debt securities market in February. Banks repaid $551 million and the central government\u2019s net use was $1 billion, regarding bond issuances abroad.
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Turkey is reportedly considering raising the level of forex revenues that exporters must sell to the CBRT to as high as 50% from the current level of 25%, reported Reuters citing sources.Turkey\u2019s current account balance registered a $5.15 billion deficit in February, widening $2.71 billion year-over-year, according to official data released on Monday. The Central …<\/p>\n","protected":false},"author":13,"featured_media":32677,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7246,7121,8070],"class_list":["post-63609","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-cbrt","tag-lira","tag-turkish-economy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/63609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=63609"}],"version-history":[{"count":5,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/63609\/revisions"}],"predecessor-version":[{"id":63670,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/63609\/revisions\/63670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32677"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=63609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=63609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=63609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}