Foreign currency, gold reserves up 2.3%, 7.4% on monthly basis in May, official data shows
The Turkish Central Bank’s reserves amounted to $92 billion at the end of May, according to data released on Monday.
Total reserve assets saw a monthly increase of 4.6%, according to the bank’s international reserves and foreign currency liquidity report.
Foreign currency reserves in convertible foreign currencies totaled $46.5 billion, up 2.3% on a monthly basis.
The bank’s gold reserves including gold deposits and, if appropriate, gold swapped swelled 7.4% from April to reach $43.9 billion.
The bank’s reserves also posted an increase from $90.9 billion at the end of May 2020.
Short-term predetermined net drains of the government and the central bank, including foreign currency loans, securities, and foreign exchange deposit liabilities, dropped by 13.6% to $23.4 billion, the report said.
Of these, $18 billion were in principal repayments and $5.4 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 $60.1 billion, of which $27.2 billion is due in one month.
Contingent short-term net drains on foreign currency recorded $46 billion, increasing by 0.6% compared to the previous month.