ANKARA 

The official reserves of the Central Bank of Turkey (CBRT) totaled $96.3 billion as of the end of June, the bank reported Friday.

Last month, total reserve assets posted a 0.7% hike, up from $95.6 billion at the end of May.

Foreign currency reserves amounted to nearly $72 billion in convertible foreign currencies, falling 2.2% over the same period.

Gold reserves surged 11.4% to $22.8 billion including gold deposits and, if appropriate, gold swapped.

On a yearly basis, official reserves of the CBRT dropped 2.3%, as the amount was $98.4 billion at the end of June 2018.

In mid-December 2013, the bank's total reserves hit all-time peak at nearly $136 billion, including some $21 billion in gold reserves.

Liability side

Official figures also revealed that short-term predetermined net drains of the central government and the CBRT climbed 14% month-on-month to $17.2 billion in June.

The bank noted that $12.5 billion of this amount was in principal repayments, while $4.7 billion was in interest repayments.

"Additionally, FX liabilities arising from the CBRT’s financial derivative activities with resident banks and non-resident banks indicated a net stock of $17.6 billion, of which $11.6 billion is due in one month," it said.

In June, contingent short-term net drains on foreign currency were $36.3 billion, going up 3.2% on a monthly basis.

According to the bank's definition, the contingent short-term net drains on foreign currency consist of “collateral guarantees on debt due within one year” and “other contingent liabilities," which are the banking sector’s required reserves in blocked accounts in foreign currency and gold, and the letters of credit items on the Central Bank’s balance sheet.