• Official Reserve Assets recorded USD 107.7 billion indicating 5.1 percent increase compared to the previous month. As regards to sub-items, foreign currency reserves increased by 3.2 percent to USD 75.8 billion, while gold reserves increased by 10.5 percent to USD 30.4 billion.
• Short term predetermined net drains of the Central Government and the CBRT (foreign currency loans, securities, FX deposit liabilities) increased by 6.4 percent to USD 18.1 billion on net basis, of which USD 13.2 billion in principal repayments and USD 4.9 billion in interest repayments. Additionally, outstanding FX and gold liabilities arising from the CBRT’s financial derivative activities with resident and non-resident banks indicated USD 26.9 billion, of which USD 19.9 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 increased by 2.3 percent to USD 36.7 billion compared to the previous month.

Source: Central Bank of Republic of Turkey / link: https://www.tcmb.gov.tr/wps/wcm/connect/en/tcmb+en/main+menu/statistics/balance+of+payments+and+related+statistics/international+reserves-foreign+currency+liquidity
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

According to the news published by Central Bank of Republic of Turkey, official Reserve Assets recorded USD 102.5 billion indicating 2.9 percent decrease compared to the previous month. As regards to sub-items, foreign currency reserves decreased by 4.7 percent to USD 73.5 billion, while gold reserves increased by 2.4 percent to USD 27.5 billion.

Short term predetermined net drains of the Central Government and the CBRT (foreign currency loans, securities, FX deposit liabilities) increased by 6.4 percent to USD 17.1 billion on net basis, of which USD 12.3 billion in principal repayments and USD 4.8 billion in interest repayments. Additionally, outstanding FX and gold liabilities arising from the CBRT’s financial derivative activities with resident and non-resident banks indicated USD 19.8 billion, of which USD 10.8 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 increased by 3.8 percent to USD 35.9 billion compared to the previous month.

Source: Central Bank of Republic of Turkey / link: https://www.tcmb.gov.tr/wps/wcm/connect/en/tcmb+en/main+menu/statistics/balance+of+payments+and+related+statistics/international+reserves-foreign+currency+liquidity
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

According to the news of Hürriyet Daily News, the Turkish Central Bank on Nov. 28 announced its official reserves amounted to $104.6 billion as of the end of October.

Total reserve assets jumped to 3.4% in October, versus the end of September, the bank’s international reserves and foreign currency liquidity report showed.

Foreign currency reserves – in convertible foreign currencies – totaled some $76.5 billion, up 3.8% compared to the previous month.

In October, the bank’s gold reserves – including gold deposits and, if appropriate, gold swapped – also rose 2.7% monthly to $26.6 billion.

In mid-December 2013, its total reserves hit their all-time peak at nearly $136 billion, including some $21 billion in gold reserves.

Source: Hürriyet Daily News / link: http://www.hurriyetdailynews.com/turkish-central-bank-reserves-exceed-104b-in-october-149230
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.