Money

Turkish Central Bank reserves hit 95.7$B in January

Foreign currency reserves stand at $51.9B, gold reserves total $42.2B, official data shows

The Turkish Central Bank’s reserves amounted to $95.7 billion at the end of January 2020, the bank announced on Friday.

According to the bank’s international reserves and foreign currency liquidity report, total reserve assets rose 2.6% in January from the end of December.

Foreign currency reserves in convertible foreign currencies totaled $51.9 billion, up 7.2% compared to the previous month.

In January, the bank’s gold reserves decreased 2.5% on a monthly basis to $42.2 billion.

Short-term predetermined net drains of the government and the central bank, including foreign currency loans, securities, and foreign exchange deposit liabilities, remained unchanged at $28.2 billion, the report said.

Of these, almost $22.9 billion were in principal repayments and $5.3 billion in interest payments, it added.

Additionally, outstanding foreign exchange and gold liabilities arising from the central bank’s financial derivative activities with resident and non-resident banks stood at $59.3 billion, of which $20.9 billion is due in one month.

Source
AA

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