Turkish Central Bank reserves below $100bn in June

The logo of Central Bank of the Republic of Turkey (CBRT) is seen outside of the headquarters, in Ankara, Turkey on December 20, 2019. [Aytaç Ünal – Anadolu Agency]

Reserves of the Turkish Central Bank fell to $98.3 billion as of the end of this June, the bank announced today.

The bank’s total reserve assets dropped 3.3 per cent from a month ago, the latest data showed.

Foreign currency reserves – in convertible foreign currencies – declined 4.8 per cent from May to $49.7 billion in June.

The bank’s gold reserves – including gold deposits and, if appropriate, gold swapped – dropped 1.8 per cent month-on-month to $41.1 billion.

The bank’s reserves in June 2021 were at $97.7 billion.

Short-term predetermined net drains on the central government and Central Bank – foreign currency loans, securities, and foreign exchange deposit accounts of residents abroad within the bank – rose slightly 0.8 per cent to $23.2 billion in the month.

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