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Turkey Gross FX Reserves Fall $2bn to $85bn

TURKEY
  • TURKEY CENBANK GROSS FX RESERVES $85B IN WEEK TO DEC. 03 (vs $87bn prior)
  • Gross FX reserves starting to show the impact of CBRT interventions to defend the currency last week around the 13.88 mark, but below the all-time high at 13.9519
  • GS said that the CBRT had been intervening in clips of $1bn, estimating total foreign currency reserves excluding swaps with other central banks to be US$66.0bn, while net reserves excluding swaps with banks and other central banks are at negative US$48.6bn.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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