Turkey’s gross FX reserves fall 2% w/w in week ending May 4

Turkey’s gross FX reserves fall 2% w/w in week ending May 4
By bne IntelliNews May 10, 2018

The Turkish central bank's gross foreign exchange reserves declined by 2% w/w to $86.2bn as of May 4 from $87.6bn as of April 27, the central bank said on May 10.

The FX reserves amounted to $83.1bn as of April 6, the lowest level recorded since June 2012.

The TRY was trading at 4.2291 against the USD as of 21:30 local time, having strengthened 1.36% d/d. The currency has lost around 12% against the USD since the beginning of the year.

The gross FX reserves stood at $92.9bn at end-2015, at $92.05bn by end-2016 and $84.1bn at end-2017.

The latest data also showed the central's bank's gold reserves slightly declined to $24.8bn as of May 4 from $25.2bn as of April 27.

The gold reserves saw a record high of $25.72bn as of March 23.

They stood at $14.05bn at end-2016 and at $23.5bn at end-2017.

Consequently, total gross international reserves, including gold and FX reserves, declined to $111bn as of May 4 from $112.8bn as of April 27.

The total gross international reserves stood at $107.7bn at end-2017. They fell to $106bn by the end of 2016 from $111bn at the end of 2015.

 

 

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