Turkish Central Bank reserves at $86.2B in October
ANKARA – Anadolu Agency
Total reserve assets climbed 1.7 percent in October, up from $84.7 billion at the end of September.
Foreign currency reserves amounted to $66.2 billion in convertible foreign currencies, going up one percent over the same period.
Gold reserves climbed 4.7 percent to $18.5 billion including gold deposits and, if appropriate, gold swapped.
“Short term predetermined net drains of the central government and the Central Bank [foreign currency loans, securities, foreign exchange deposit accounts of foreign banks and residents abroad in the CBRT] decreased by 10 percent compared to the previous month, realizing as $11.5 billion,” the bank said.
“Of this amount, $7.3 billion belongs to principal repayments and $4.2 billion to interest repayments.
“Regarding the maturity breakdown of the principal and interest payments, $1 billion is due in one month, $800 million in 2-3 months, $9.7 billion in 4-12 months,” it said.
In October, contingent short-term net drains on foreign currency amounted to $27.9 billion, marking a 4.8-percent decline month-on-month.
According to the bank’s definition, the contingent short-term net drains on foreign currency consist of “collateral guarantees on debt due within one year” and “other contingent liabilities,” which are the banking sector’s required reserves in blocked accounts in foreign currency and gold, and the letters of credit items on the Central Bank’s balance sheet.