Turkish Central Bank's reserves reach nearly $106B

By Muhammed Ali Gurtas

ANKARA

Turkey's Central Bank total reserves reached at $105.9 billion as of May 5, the bank announced on Thursday.

The bank's total reserves, including gold reserves, increased by approximately $3.2 billion -- an increase of 3.1 percent -- compared with $102.7 billion on April 28, according to the Weekly Money and Banking Statistics.

During the April 28-May 5 period, the bank's gross foreign exchange reserves advanced from $84.9 billion to $88.1 billion while gold reserves increased by $74 million to stand at $17.8 billion, the figures showed.

Turkey's Central Bank's total reserves closed last year at some $106 billion, of which $92 billion were in foreign exchange reserves along with $14 billion of gold reserves.