Economy

Turkish Central Bank int'l reserves at $104.8B in Nov.

Foreign currency reserves total $76.9 billion, while gold reserves at $26.5 billion

Tuba Sahin   | 27.12.2019
Turkish Central Bank int'l reserves at $104.8B in Nov.

ANKARA

The official reserves of the Central Bank of the Republic of Turkey (CBRT) reached $104.8 billion as of the end of November, the bank announced Friday.

The November figure showed that total reserve assets rose 0.2% from the previous month.

Foreign currency reserves -- in convertible foreign currencies -- increased 0.4% to $76.9 billion during the same period.

Last month, the bank's gold reserves -- including gold deposits and, if appropriate, gold swapped -- dropped 0.3% month-on-month to $26.5 billion.

On an annual basis, the CBRT's official reserves jumped 15%, up from $91 billion at the end of November 2018.

Liability side

Short-term predetermined net drains of the central government and CBRT -- foreign currency loans, securities, and foreign exchange deposit accounts of residents abroad within the bank -- posted a 8.9% monthly decrease in November, reaching $15.2 billion, the bank said.

"Of this amount, $10.4 billion were in principal repayments and $4.8 billion in interest repayments," the bank said.

The CBRT also said the contingent short-term net drains on foreign currency amounted to $35.3 billion last month, down 3.3% from end-October.

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