Turkish Central Bank's reserves rise to $88B in April

By Yunus Girgin

ANKARA (AA) – The Turkish Central Bank’s reserves amounted to $88 billion at the end of April, the bank announced on Friday.

Total reserve assets increased 1.5% from the previous month, according to the bank’s international reserves and foreign currency liquidity report.

Foreign currency reserves – in convertible foreign currencies – totaled $45.5 billion, dropping 1.6% from March.

In April, the bank’s gold reserves rose 5.1% on a monthly basis to $40.9 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 1% to stand at $27 billion, the report said.

Of these, almost $21.6 billion were in principal repayments and $5.4 billion in interest payments.

Additionally, outstanding foreign exchange and gold liabilities arising from the central bank's financial derivative activities with resident and non-resident banks stood at $60.7 billion, of which $21.2 billion are due in one month, the report added.