Ankara: Trkiye's external assets totaled $404 billion as of the end of June, falling 1.7% from the previous quarter, the Turkish Central Bank said Thursday. Among external assets, direct investments rose 3.2% quarter-on-quarter to $81.2 billion, while portfolio investments dropped 11% to $9.1 billion. Other investments fell 2.7% to $163.6 billion during the same period.

According to Anadolu Agency, foreign exchange deposits held by resident banks abroad decreased 7% to $49 billion, while the Central Bank's reserve assets dropped 2.2% to $147.4 billion. The bank also revised upward by $12.8 billion the first-quarter figure for currency and deposits held abroad by resident individuals.

Trkiye's liabilities to non-residents, meanwhile, rose 3% from the previous quarter to $806.7 billion. Direct investment liabilities fell 0.6% to $231.5 billion, while portfolio investment liabilities climbed 8.8% to $154.8 billion. Equities and investment fund shares held by non-residents rose 14.6% to $49.7 billion, while other investment liabilities increased 2.9% to $413.4 billion.

As a result, Trkiye's net international investment position (IIP)-the difference between the country's external assets and liabilities-stood at minus $402.6 billion at the end of June. Financial derivatives were reported as a separate item for the first time, with the net value of derivative contracts standing at minus $4.3 billion.