Non-financial firms’ FX assets at $173 billion

Foreign exchange assets of Turkish non-financial companies declined by $813 million from April to stand at $172.6 billion at the end of May, according to data from the Central Bank.

Their FX liabilities dropped by $3.5 billion to $254.1 billion.

The net foreign exchange deficit of non-financial companies was $81.47 billion, indicating a decrease of $2.73 billion compared to April.

Deposits held by domestic banks and securities declined by $2.2 billion and $47 million respectively, while export receivables and direct investments abroad increased by $971 million and $499 million respectively, the bank said.

"On the liability side, while domestic loans and external loans -excluding trade credits- decreased by $2.16 billion and $2.11 billion respectively, import payables increased by $736 million from April," it added.

Short-term assets stood at $150.4 billion, while short-term liabilities reached $83.94 billion.

Accordingly, the short-term foreign exchange surplus was $66.47 billion, indicating a decrease of $1.85 billion compared to April. The share of the short-term liabilities in total liabilities was 33 percent, according to the Central Bank.