Turkish Central Bank int'l reserves at $102.5 bln in January

Turkish Central Bank int'l reserves at $102.5 bln in January

ANKARA - Anadolu Agency
Turkish Central Bank intl reserves at $102.5 bln in January

The Turkish Central Bank's official reserves stood at $102.5 billion as of the end of January, the bank announced on Feb. 28.

The January figures showed total reserve assets dropped 2.9 percent from the previous month.

Foreign currency reserves – in convertible foreign currencies – fell 4.7 percent to $73.5 billion during the same period.

Last month, the bank's gold reserves – including gold deposits and, if appropriate, gold swapped – dropped 2.4 percent month-on-month to $27.5 billion.

Meanwhile, on an annual basis, the bank's official reserves soared 5.9 percent, up from $96.8 billion at the end of January 2019.

Liability side

Short-term predetermined net drains of the central government and Central Bank – foreign currency loans, securities, and foreign exchange deposit liabilities – posted a 8.9 percent monthly increase in January, reaching $17.1 billion, the bank said.

Of this amount, $12.3 billion were in principal repayments and $4.8 billion in interest repayments, the bank said.

The bank also said the contingent short-term net drains on foreign currency last month totaled $35.9 billion, up 3.8 percent from end-December.