ANKARA, March 22 (Reuters) - The Turkish central bank's
total gross reserves are expected to have risen by some $7
billion to $127 billion, six bankers' calculations showed on
Wednesday, after a deposit from Saudi Arabia entered its
accounts.
A deposit of $5 billion from the Saudi Fund for Development
(SFD) entered the accounts of the Turkish Central Bank on
Monday, bankers told Reuters last week.
Their calculations showed net international reserves rose by
more than $2 billion to stand at $20.8 billion last week. On
Tuesday, three bankers calculated an increase of some $6 billion
in net fx reserves. Bankers have said the discrepancy between calculations is
due to the impact of the deposit from Saudi Arabia, which will
not be included in net reserves.
Turkey's net foreign exchange reserves have rebounded from
just over $6 billion last summer, when they were at their lowest
in at least 20 years.
However, they had lost some $9.6 billion since a massive
earthquake hit southern Turkey in early February, killing more
than 56,000 people in Turkey and Syria and leaving millions
homeless.
(Reporting by Nevzat Devranoglu, Editing by William Maclean)
Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.