NEWS Finance        28/05/2019

Turkish Central Bank’s reserves fall a further 4.3% to USD 92.8 billion as of the end of April 2019

According to the Turkish Central Bank’s International Reserves and Foreign Currency Liquidity report, the Bank’s total reserves fell further by 4.3% in the month of April 2019. The reserves value as of April 30th, 2019 was USD 92.8 billion, compared with USD 96.3 billion as of the end of March 2019.


In April 2019, the Bank’s foreign currency reserves, in convertible foreign currencies, amounted to USD 70.7 billion, a fall of 4.3%, and its gold reserves amounted to USD 20.5 billion, a fall of 1.5%, compared with the previous month of March. 


In 2018, the Bank's official reserves saw a decline of 13.6% to USD 93 billion from USD 107.7 billion at 2017 yearend. In mid-December 2013, the Bank's total reserves had reached their all-time peak of nearly USD 136 billion, including some USD 21 billion in gold reserves. 


With regards its short-term liabilities in April 2019, the Bank made the following declaration on its website :


“Short term predetermined net drains of the Central Government and the CBRT (foreign currency loans, securities, FX deposit liabilities) decreased by 11.1 percent on net basis compared to the previous month, realizing as USD 10.8 billion, of which USD 6.1 billion in principal repayments and USD 4.7 billion in interest repayments. Additionally, liabilities arising from the CBRT’s financial derivatives activities with resident banks and non-resident banks indicated a net stock of USD 14.9 billion, of which USD 11.9 billion is due in one month.


Contingent short-term net drains on foreign currency consists of “collateral guarantees on debt due within one year” and “other contingent liabilities (“Banking Sector’s Required Reserves in Blocked Accounts in Foreign Currency and Gold” and “Letters of Credit” items in the CBRT’s balance sheet). These liabilities remained unchanged compared to the previous month, recording USD 31.2 billion.”




Turkey’s net minimum wage has been raised 26.05% to TL 2,020 (USD 381) as of 01.01.2019       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s annual inflation rate drops to 9.26% in September 2019       Turkey’s unemployment rate jumps up to 13.9% in July 2019       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 82,003,882 as of 2018 yearend       Number of foreigners visiting Turkey in 2018 increases by 21.8% to 39.5 million       Turkey’s private sector foreign debt is USD 225.8 billion as of 2018 yearend       Turkey’s economy contracted by 2.6% in the first quarter of 2019       Turkey shows surplus of USD 538 million in its 12 month rolling current account balance in June 2019