CBRT – International Reserves/Foreign Currency Liquidity Developments – March 2020
- Official Reserve Assets recorded USD 92.1 billion indicating 14.5 percent decrease compared to the previous month. As regards to sub-items, foreign currency reserves decreased by 21.9 percent to USD 59.2 billion, while gold reserves increased by 3.3 percent to USD 31.4 billion.
- Short term predetermined net drains of the Central Government and the CBRT (foreign currency loans, securities, FX deposit liabilities) increased by 23.4 percent to USD 22.4 billion, of which USD 17.4 billion in principal repayments and USD 5 billion in interest payments. Additionally, outstanding FX and gold liabilities arising from the CBRT’s financial derivative activities with resident and non-resident banks recorded USD 30.9 billion, of which USD 16.3 billion is due in one month.
- Contingent short-term net drains on foreign currency consists of “collateral guarantees on debt due within one year” and “other contingent liabilities (“Banking Sector’s Required Reserves in Blocked Accounts in Foreign Currency and Gold” and “Letters of Credit” items in the CBRT’s balance sheet). These liabilities recorded USD 32.7 billion decreasing by 11.1 percent compared to the previous month.
Source: Central Bank of Republic of Turkey
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