The recent trend of FX deposits does not look pretty at all as well as acts as reminiscent of 2001’s financial crisis in Turkey. The chart above shows the clear picture of both TRY and FX deposits are heading into. As demonstrated above, the terrifying spread emerged last summer, likely after the erosion of Turkish Lira due to capital inflows arising out of political unrest. A shocking move in foreign exchange rate supports the herd mentality...