Turkish Central Bank int'l reserves at $92.1B in March
11:40, 28/04/2020, TuesdayU: Update: 11:41, 28/04/2020, Tuesday
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FILE PHOTO: Banknotes of U.S. dollars and Turkish lira are seen in a currency exchange shop in Azaz, Syria, August 18, 2018. REUTERS/Khalil Ashawi/File Photo
Foreign currency reserves total $59.2B, while gold reserves at $31.4B
The Turkish Central Bank's official reserves stood at $92.1 billion as of the end of March, the bank announced Tuesday.
The March figures showed total reserve assets fell 14.5% from previous month.
Foreign currency reserves -- in convertible foreign currencies -- were down 21.9% to $59.2 billion, while gold reserves increased by 3.3% to $31.4 billion during the same period.
In February, the bank's official reserves posted a 5.1% increase to $107.7 billion, with foreign currency reserves up 3.2% to $75.8 billion.
- Liability side
Short-term predetermined net drains of the central government and Central Bank -- foreign currency loans, securities, and foreign exchange deposit liabilities -- posted a 23.4% monthly increase in March, reaching $22.4 billion, the bank noted.
Of this amount, $17.4 billion were in principal repayments and $5 billion in interest repayments, it said.
Additionally, outstanding FX and gold liabilities arising from the bank’s financial derivative activities with resident and non-resident banks recorded $30.9 billion, of which $16.3 billion is due in one month.
The bank also said the contingent short-term net drains on foreign currency last month totaled $32.7 billion, down 11.1% from previous month.