Turkish Central Bank's reserves drop in December 2021

ANKARA

The Turkish Central Bank’s reserves fell to $111.2 billion at the end of December 2021, an 11.5% drop from the previous month, according to latest figures released on Thursday.

Foreign currency reserves – in convertible foreign currencies – totaled $64.8 billion, down 17.4% on a monthly basis, the bank’s international reserves and foreign currency liquidity report showed.

The bank’s gold reserves – including gold deposits and, if appropriate, gold swapped – dropped by 2.1% to $38.5 billion.

Short-term predetermined net drains on the government and the Central Bank – foreign currency loans, securities, and foreign exchange deposit liabilities – declined by 6.4% to $28.1 billion, of which $22.6 billion are in principal repayments and $5.5 billion in interest payments.

Additionally, outstanding foreign exchange and gold liabilities arising from the bank’s financial derivative activities with resident and non-resident banks stood at $64.7 billion, of which $29.8 billion is due in one month, the report said.