UPDATE - Turkey: Central Bank reserves at $95.3B in February

UPDATES WITH DETAILS

By Gokhan Ergocun

ISTANBUL (AA) – The Turkish Central Bank’s reserves amounted to $95.3 billion at the end of February, the bank announced on Friday.

Total reserve assets posted a slight monthly decline of 0.4%, according to the bank’s international reserves and foreign currency liquidity report.

Foreign currency reserves – in convertible foreign currencies – totaled $53 billion, up 2.1% on a monthly basis.

Last month, the bank’s gold reserves – including gold deposits and, if appropriate, gold swapped – dropped 3.4% from January to $40.7 billion.

The bank’s reserves stood at $107.7 billion at the end of February 2020.

Short-term predetermined net drains of the government and the central bank, including foreign currency loans, securities, and foreign exchange deposit liabilities, soared by 8.3% to $30.6 billion, the report said.

Of these, almost $25.1 billion were in principal repayments and $5.5 billion in interest payments, it added.

Additionally, outstanding foreign exchange and gold liabilities arising from the central bank’s financial derivative activities with resident and non-resident banks stood at $58 billion, of which $21.7 billion is due in one month.