The official reserves of the Central Bank of the Republic of Turkey (CBRT) totaled $86.2 billion as of the end of October, the bank reported yesterday. Total reserve assets climbed 1.7 percent in October, up from $84.7 billion at the end of September.
Foreign currency reserves amounted to $66.2 billion in convertible foreign currencies, going up one percent over the same period.
Gold reserves climbed 4.7 percent to $18.5 billion, including gold deposits and, if appropriate, gold swapped.
On a yearly basis, the official reserves of the CBRT dropped nearly 27 percent, as the amount was $117.7 billion at the end of October 2017.
In mid-December 2013, the bank's total reserves hit an all-time peak of nearly $136 billion, including some $21 billion in gold reserves.
"Short-term predetermined net drains of the central government and the CBRT [foreign currency loans, securities, foreign exchange deposit accounts of foreign banks and residents abroad in the CBRT] decreased by 10 percent compared to the previous month, realizing as $11.5 billion," the bank said.
"Of this amount, $7.3 billion belongs to principal repayments and $4.2 billion to interest repayments.
"Regarding the maturity breakdown of principal and interest payments, $1 billion is due in one month, $800 million in 2-3 months and $9.7 billion in 4-12 months," it said. In October, contingent short-term net drains on foreign currency amounted to $27.9 billion, a 4.8-percent decline month-on-month.