Central Bank reserves reach $101.6 billion in August
The Turkish Central Bank’s official reserves totaled $101.6 billion as of the end of August 2019, the Bank announced on September 27. Its total reserve assets soared 2.2 percent in July, compared to $99.4 billion at the end of July, according to a report on the Bank’s international reserves and foreign currency liquidity. The Bank’s foreign currency reserves - in convertible foreign currencies - totaled some $74.4 billion, unchanged from the previous month’s figures. Its gold reserves - including gold deposits and, if appropriate, gold swapped - posted an increase of 9.4 percent on a monthly basis to $25.7 billion in August. Compared annually, the Bank’s official reserves also rose 14.2 percent, up from $88.9 billion at the end of August 2018. In August, short-term predetermined net drains of the central government and the Central Bank - foreign currency loans, securities, and foreign exchange deposit accounts of residents abroad within the Bank - dropped by 1.8 percent to $16.8 billion, the report showed.