Foreign Currency Balance Sheets in Türkiye: Exposure and Interconnectedness
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Summary:
As a heavily “dollarized” economy, large foreign currency mismatches exist between institutional sectors within Türkiye, as well as with non-residents. Combining several separate data sources, this working paper builds a picture of the aggregate FX exposure of the total economy. It explores the interlinkages between sectors and how they have evolved in recent years. Since the start of the pandemic, the overall net FX position of the economy deteriorated, and there has also been a considerable shift in FX risk from the private to the public sector. Especially for the central bank, this shift constrains policy space.
Series:
Working Paper No. 2023/132
Subject:
Financial statements Foreign exchange Public financial management (PFM)
Frequency:
regular
English
Publication Date:
June 23, 2023
ISBN/ISSN:
9798400245879/1018-5941
Stock No:
WPIEA2023132
Format:
Paper
Pages:
15
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