Official Reserve Assets of the CBRT Increased by 6.1 Percent

Official Reserve Assets of the CBRT Increased by 6.1 Percent Official reserve assets of the CBRT increased by 6.1 percent. Thus, the official reserve assets of the Central Bank were recorded as 84.5 billion dollars in October. Central Bank of the Republic of Turkey (CBRT) has published the data of “International Reserves and Foreign Currency Liquidity Developments” for the period October 2020 According to the announced data, official reserve assets increased by 6.1 percent in October compared to the previous month and reached 84.5 billion dollars. During the same period, foreign exchange assets increased by 12.4 percent to $ 40.8 billion, and reserve assets in gold rose by 0.8 percent to $ 42.1 billion. The predetermined foreign exchange outflows of the Central Government and the CBRT (foreign currency loans, securities and liabilities arising from deposit transactions), which are 1 year or less to maturity, rose by 1.3 percent in October to 26 billion dollars. Of this amount, $ 20.7 billion consisted of principal and $ 5.3 billion of interest. In the said period, the net foreign exchange and gold liabilities of the Central Bank caused by the financial derivative transactions with domestic and foreign resident banks were $ 66.9 billion, while $ 22.7 billion of this amount was recorded with a one-month maturity. Contingent foreign currency outflows consisted of Treasury-guaranteed foreign debts to be repaid within 1 year and other liabilities (foreign currency and gold required reserves blocked account and letters of credit). These liabilities declined to 38.6 billion dollars in October, with a 3.2 percent decrease compared to September.