Economy

Turkish Central Bank posts $86.3B in June reserves

Foreign currency reserves amount to $45.8B, gold reserves $39.1B, official data show

Aysu Bicer   | 28.07.2020
Turkish Central Bank posts $86.3B in June reserves

ANKARA

The Turkish Central Bank on Tuesday announced that its official reserves amounted to $86.3 billion as of the end of June.

Total reserve assets posted a fall of %5 in June versus the end of May, the bank's international reserves and foreign currency liquidity report showed.

Foreign currency reserves -- in convertible foreign currencies -- totaled some $45.8 billion, down 13.2% compared to the previous month.

In June, the bank's gold reserves -- including gold deposits and, if appropriate, gold swapped -- increased by 6.5% monthly to $39.1 billion.

Short term predetermined net drains of the government and Central Bank, including foreign currency loans, securities, FX deposit liabilities, decreased by 4.4% to $21.2 billion, of which $16.3 billion were in principal repayments and $4.9 billion in interest payments, according to the report.

Additionally, outstanding FX and gold liabilities arising from the bank's financial derivative activities with resident and non-resident banks recorded $58.9 billion, of which $15.5 billion is due in one month.

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