Turkey: Central Bank reserves hit 82.7$B in November

By Aysu Bicer

ANKARA (AA) – The Turkish Central Bank’s reserves amounted to $82.7 billion at the end of November, the bank announced on Monday.

Total reserve assets fell 2.2% in November from the end of October, according to the bank's international reserves and foreign currency liquidity report.

Foreign currency reserves -- in convertible foreign currencies -- totaled $41.1 billion, slightly up 0.7% compared to the previous month.

In November, the bank’s gold reserves -- including gold deposits and, if appropriate, gold swapped -- fell 5.1% on a monthly basis to $40 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 6.1% to $27.6 billion, the report said.

Of these, $22.3 billion were in principal repayments and $5.3 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 $63.4 billion, of which $27.6 billion is due in one month, the report said.

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