Which Turkish cities lead in foreign currency deposit share?

Aksaray holds the highest share of foreign currency deposits in Türkiye, with 49.3% of total deposits denominated in foreign currencies, according to the latest quarterly data from the Banking Regulation and Supervision Agency (BDDK).

Despite expectations, major cities like Istanbul, Ankara and Izmir did not make it into the top 10.

Aerial view of Istanbul's famous Hagia Sophia and Sultan Ahmet park on a late summer afternoon, Istanbul, Türkiye. (Adobe Stock Photo)

Top cities for foreign currency deposits

The data highlights smaller provinces as the top holders of foreign currency deposits, underscoring a trend outside of the country’s largest urban centers. Following Aksaray, the provinces with the highest foreign currency deposit ratios are:

• Bingol: 48.2%
• Elazig: 47.2%
• Karaman: 46.3%
• Bayburt: 46%
• Yozgat: 46%
• Nevsehir: 45%
• Kutahya: 44.4%
• Gumushane: 44%
• Corum: 42.9%

Ihlara Valley in Aksaray, Türkiye. (AA Photo)

Major cities fall behind smaller provinces

Among Türkiye's largest cities, Istanbul ranked 35th with a foreign currency deposit share of 35.8%, while Izmir and Ankara placed even lower at 49th (32.2%) and 54th (31.7%), respectively.

At the bottom of the list were Ardahan (17.9%), Kars (23.3%) and Sanliurfa (23.8%).

Atakule, one of the landmarks of the city, is seen through autumn-colored leaves in Ankara, Türkiye, Nov. 7, 2024. (AA Photo)

Foreign residents hold higher proportion of foreign currency deposits

The report also noted that foreign residents in Türkiye hold a significantly higher share of foreign currency deposits, with 66.2% of their total deposits in foreign currencies.

November 12, 2024 11:38 AM GMT+03:00