Turkish Central Bank reserves drop below $85 bln
ANKARA – Anadolu Agency
Foreign currency reserves - in convertible foreign currencies - totaled $65.5 billion, marking a 4.9 percent drop compared to the previous month.
Last month, the bank's gold reserves - including gold deposits and, if appropriate, gold swapped - declined by 4.2 percent on a monthly basis to $17.7 billion.
Short-term predetermined net drains of the central government and the CBRT - foreign currency loans, securities, and foreign exchange deposit accounts of residents abroad within the bank - recorded a 6.5-percent monthly hike in September, reaching $12.8 billion, the bank said.
"Of this amount, $8.7 billion belongs to principal repayments and $4.1 billion to interest repayments.
"Regarding the maturity breakdown of the principal and interest payments, $2.2 billion is due in one month, $0.9 billion in 2-3 months, $9.7 billion in 4-12 months," it added.
The CBRT also said the contingent short-term net drains on foreign currency totaled $29.3 billion in September, going down 19.6 percent from the previous 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.