The Turkish central bank reported on December 7 that its gross forex reserves last week experienced a record drop, declining to $89.85bn on December 1 from $96.35bn a week earlier.
The drop in the national lender’s foreign exchange reserves - the most substantial since the data was first made available 30 years ago - was largely down to banks using depo auctions and a change the central bank made in its required reserves last month, bankers told Reuters.
Bankers also said they expected the reserves to increase by at least $1.9bn this week due to banks’ use of forex depo auctions.
The central bank also reported an inflow of $70.7mn into Turkish equities in the week ending December 1. However, there was an outflow of $55mn from Turkish government debt securities in the same period.
Related Articles
Turkish LPG carrier set on fire during Russian drone attack
A Turkish LPG carrier docked at the port of Izmail, Ukraine, was hit by a Russian drone during an attack, sparking a fire on the vessel, which has now been extinguished. According to the Maritime ... more
Kurdish official estimates Iraqi oil losses at $28bn
The 18-month suspension of oil exports from Iraqi Kurdistan has cost the state more than $28bn in lost revenue, a senior Kurdish official has said, as the fiscal damage is compounded by security ... more
Turkey’s Şahinler invests $100mn in Egypt’s garments and tourism sectors
Turkish group Şahinler Holding is expanding its operations in Egypt with new investments exceeding $100mn across the ready-made garments and tourism sectors, Al Sharq Business reported on August 27, ... more
Most Read
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago
-
India’s smart metering push gains momentum
4 months ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago