According to Goldman Sachs, $1.8 billion left money market funds in the week ending September 11; in the first two weeks of September, the decline reached $4 billion. Lira deposits increased by $12 billion, with a monthly rise of approximately $20 billion.
According to a report by Goldman Sachs analysts Clemens Grafe and Başak Edizgil, the increase in TL deposits outpaced inflows into foreign currency and gold deposits. It was noted that despite falling deposit interest rates, money exiting funds is heading into TL deposits. This could temporarily ease concerns about the exchange rate and inflation.
