Turkish Lira Deposits Hit 11-Year High as De-Dollarization Advances

Turkish Treasury and Finance Minister Mehmet Şimşek said the share of Turkish lira deposits in the country's total bank deposits reached about 62 percent in the week ending July 3, 2026, the highest level in 11 years. That compares with roughly 31.6 percent in August 2023, before Turkey's economic stabilization program began, marking substantial progress in de-dollarization.

Şimşek said, "We will continue our policies to reinforce confidence in the Turkish lira, strengthen macro-financial stability and achieve price stability, which is the prerequisite for sustainable high growth." He added that the balance of foreign-currency-protected deposits under the KKM scheme has fallen from 3.4 trillion lira in August 2023 to about 478 billion lira (roughly 11.75 billion dollars). The progress comes as the Turkish lira has weakened about 8 percent against the dollar since the start of 2026.