Minimum Interest Interest Has Been Removed in Exchange-Protected Deposit Accounts

The government implemented the “exchange rate protected deposit account” (KKM) is taking various steps to remove the application from circulation. The reason for this is to get rid of the burden that exchange rate-protected deposit accounts bring to the treasury. The Ministry of Treasury and Finance and the Central Bank of the Republic of Turkey, with the decisions taken, allow citizens to leave the KKM. to different investment instruments aims to provide direction.

Now, a decision has been taken in this direction again. CBRT applies to exchange rate protected deposit accounts. removed the minimum interest requirement. While banks have not been able to give interest rates below the policy rate for KKMs until now, they will now be able to do so. Thus, in a sense, the practice of exchange rate protected deposits was brought to an end.

“We will increase the demand for TL”

CBRT President Hafize Gaye Erkanmade some statements within the scope of the OIC-COMCEC Central Banks Forum Meeting. Recent decisions regarding TL deposits to increase Erkan stated that they will continue to increase the interest in TL. Hafize Gaye Erkan’s statement was as follows:

Our recent regulations aim to increase the share of Turkish lira deposits. Leading indicators indicate that domestic and foreign investors have started to increase the share of Turkish lira assets in their portfolios. We are determined to increase local and international demand for Turkish lira assets.