CBR TURKEY: Current account balance gave a surplus in October as well

The Central Bank of the Republic of Turkey published the balance of payments statistics for October. This is the third time this year that the Turkish economy has seen a current account surplus. The current account balance, which produced a surplus in June 2023 for the first time since June 2021, produced a deficit of $5.4 billion in July and $619 million in August. In September, the current account balance, which gave the largest surplus in the last 2 years was $1.8 billion, recorded a surplus of $186 million in October. 

Foreign investments: non-residents made net sales in the stock market amounting to 423 million dollars and in the market of government debt securities amounting to 16 million dollars. Deposits of foreign banks in Turkey registered a net increase of $1 billion 287 million, including $1 billion 89 million in foreign currency and $198 million in Turkish lira.

Net increase in official reserves amounted to $247 million in October.