Turkish Central Bank reserves up over 5 percent

By Tuba Sahin

ANKARA (AA) - The Turkish Central Bank’s official reserve assets went up 5.2 percent month-on-month in October, the bank said Tuesday.

"As regards to sub-items, foreign currency reserves increased by 5.2 percent to $94.7 billion, while gold reserves rose by 5.6 percent to $21.6 billion," it said.

The bank's total reserves rose to $117.8 billion, up from $111.94 billion as of Sept. 29, according to the bank's international reserves and foreign currency liquidity report.

At the end of Oct. 2016, the bank's total reserves stood at around $118.4 billion, of which $99.5 billion were in foreign currency along with $17.4 billion of gold reserves.

Over the last decade, the bank's official reserve assets soared by nearly 39 percent, from $76.4 billion at the end of 2007 to last year's close of some $106 billion.

In mid-December 2013, the bank's total reserves saw a historic high at nearly $136 billion, of which some $21 billion were in gold reserves.