Turkish Central Bank reserves rise to $123.9 bln in October

Official reserve assets of the Turkish Central Bank swelled to $123.9 billion by the end of October, a 2.2% jump from the previous month, according to the latest figures released on Friday.

Foreign currency reserves-in convertible foreign currencies-increased 2% month-on-month to $76.4 billion, the bank's international reserves and foreign currency liquidity report showed.

The bank's gold reserves-including gold deposits and, if appropriate, gold swapped-also went up 3% to $39.7 billion.

Short-term predetermined net drains of the central government and the central bank-foreign currency loans, securities, and foreign exchange deposit liabilities-climbed by 3.8% to $25.6 billion, of which $19.9 billion was in principal repayments and $5.7 billion in interest payments.

Outstanding foreign exchange and gold liabilities arising from the bank's financial derivative activities with resident and non-resident banks was $68.3 billion, of which $26.6 billion is due in one month, the report added.