Turkey: Central Bank reserves hit $79.7B in September

By Aysu Bicer

ANKARA (AA) – The Turkish Central Bank’s reserves amounted to $79.7 billion at the end of September, the bank announced on Tuesday.

Total reserve assets fell 4.9% in September from the end of August, according to the bank's international reserves and foreign currency liquidity report.

Foreign currency reserves -- in convertible foreign currencies -- totaled $36.3 billion, down 6.3% compared to the previous month.

In September, the bank’s gold reserves -- including gold deposits and, if appropriate, gold swapped -- fell 3.7% on a monthly basis to $41.8 billion.

Short-term predetermined net drains of the government and the central bank, including foreign currency loans, securities, and foreign exchange deposit liabilities, increased by 0.3% to $25.7 billion, read the report.

Of these, $20.6 billion were in principal repayments and $5.1 billion in interest payments, it said.

Additionally, outstanding foreign exchange and gold liabilities arising from the bank’s financial derivative activities with resident and non-resident banks stood at $62.9 billion, of which $19 billion is due in one month, the report said.