Turkish Central Bank reserves rise to $97.7B in June

ANKARA

The Turkish Central Bank announced on Wednesday that its official reserves amounted to $97.7 billion as of the end of June.

Total reserve assets increased 6.1% from the previous month, according to the bank’s international reserves and foreign currency liquidity report.

Foreign currency reserves – in convertible foreign currencies – totaled $55.6 billion, up 19.5% from May.

On the other hand, the bank’s gold reserves diminished 7.8% on a monthly basis to $40.5 billion.

Short-term predetermined net drains of the government and the central bank – including foreign currency loans, securities, and foreign exchange deposit liabilities – fell by 3% to stand at $22.7 billion, the report said.

Of these, almost $17.1 billion were in principal repayments and $5.6 billion in interest payments.

Additionally, outstanding foreign exchange and gold liabilities arising from the central bank’s financial derivative activities with resident and non-resident banks stood at $65.1 billion, of which $23.7 billion are due in one month, the report added.