Turkish equities experienced a net outflow of $81mn in the week ending July 6, the central bank announced on July 12. The national lender's latest data on Turkish government debt securities, meanwhile, showed an inflow of $397mn in the week.

Total outflows from the Istanbul stock exchange have amounted to $838mn since the beginning of 2018. The bourse's total equities inflow in 2017 topped $3.34bn, in line with the scope of portfolio inflows recorded for the emerging markets universe.

Total inflows into government debt instruments amounted to $300mn to July 6 this year. There was an overall inflow of $7.13bn into debt securities in 2017.

It should be noted that latest data from the central bank does not include portfolio flows during the recent tumble in Turkish markets after President Recep Tayyip Erdogan announced late on July 9 his new cabinet under a full-blown “Turkish-type” presidential system.

The Turkish lira remained flat at 4.8553 against the US dollar as of 12:00 local time on July 13 while the benchmark BIST-100 was up 1.10% to 90,552.

The central bank's gross foreign exchange reserves rose by a sharp 5% w/w to $79.1bn as of July 6 from $75.6bn as of June 29, the lowest level seen since January 2012, the central bank said on July 12 in a separate data release.

The gross FX reserves stood at $92.9bn at end-2015, at $92.05bn by end-2016 and $84.1bn at end-2017.

The latest data also showed the central bank's gold reserves slightly rose by 0.4% w/w to $22.9bn as of July 6 from $22.9bn as of June 29.

The gold reserves saw a record high of $25.72bn on March 23. They stood at $14.05bn at end-2016 and at $23.5bn at end-2017.

Consequently, total gross international reserves, including gold and FX reserves, rose by 4% w/w to $102bn as of July 6 from $98.4bn as of June 29.

The total gross international reserves stood at $107.7bn at end-2017. They fell to $106bn by the end of 2016 from $111bn at the end of 2015.

Turkish residents’ total FX deposits with local lenders rose by $755mn to $162.8bn as of July 6, the central bank data also showed.

Residents’ FX deposits stood at $168.9bn on March 2 and at $165.3bn at end-2017.

The central bank data also showed that total FX deposits with Turkish banks rose to $199.6bn on July 6 from $198.8bn on June 29.

Total FX deposits stood at $201.1bn at end-2017.