The central bank is shifting to traditional policies after lira crashes and rising inflation.

It plans to lower KKM volume to improve monetary transfer.

KKM account volume is a record $127.6 billion, 26% of total deposits.

Lenders are offering up to 45% annual interest to clients who convert KKM cash to lira accounts.

However, depositors are wary about converting funds to lira accounts due to higher deposit rates.

Domestic households and firms’ foreign currency deposits rose $4.78 billion in the week ended Aug. 25.