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Turkey's c-bank reserves up 6.1% m/m in Oct

Fri Nov 27 2020


The international reserves held by Turkey's central bank totalled $84.5 billion (70.9 billion euro) at the end of October, up 6.1% on a monthly comparison basis, the bank said.


Foreign currency reserves rose by 12.4% month-on-month in October to $40.8 billion, whereas gold reserves edged up 0.8% to $42.1 billion, the central bank said in a statement.


Short-term pre-determined net drains of the central government and the central bank, such as foreign currency loans, securities, and foreign exchange deposit liabilities, increased by 1.3% to $26 billion, of which $20.7 billion in principal repayments and $5.3 billion in interest repayments.


Outstanding foreign exchange and gold liabilities arising from the central bank’s financial derivative operations with resident and non-resident banks totalled $66.9 billion, of which $22.7 billion is due in one month.


Contingent short-term net drains on foreign currency fell by 3.2% month-on-month to $38.6 billion in October.


($ = 0.8384 euro)