Central Bank reserves at $96.3B in March
The official reserves of the Central Bank of Turkey (CBRT) totaled $96.3 billion as of the end of March, the Bank reported April 26. Last month, total reserve assets posted a 3.8 percent decline, down from $100.1 billion at the end of February. Foreign currency reserves amounted to $74 billion in convertible foreign currencies, falling 4.8 percent over the same period. Gold reserves dropped 0.7 percent to $20.8 billion including gold deposits and, if appropriate, gold swapped. On a yearly basis, official reserves of the CBRT dropped 12.7 percent, down from $110.3 billion at the end of March 2018. The April 26 report also said shortterm predetermined net drains of the central government and the CBRT climbed 70 percent month-on-month to $25.2 billion in March. “Of this amount, $12.1 billion belongs to foreign currency loans, securities, foreign exchange deposit accounts of foreign banks and residents abroad within the CBRT. “Specifically $7.4 billion in principal repayments and $4.7 billion in interest repayments,” the Bank said.