Net reserve of Turkey’s Central Bank is minus $35 billion excluding swaps

The gross reserves of the Central Bank (MB) increased by US$ 2 billion 247 million to US$ 127 billion 691 million. The net reserve, excluding swaps, is still in the minus zone.

MB’s total reserves had seen an all-time peak with US$135.96 billion in December 2013.

According to the ‘Weekly Money and Bank Statistics’ published by MB, net reserves fell by $3.2 billion to $28.6 billion in the week of November 12.

Net reserves, excluding swaps, are at the level of minus $ 35 billion.

In swap agreements which affect reserves, one money is exchanged for another money in the amount determined between two countries. The main changed amounts are returned at the end of a certain period of time. In this case, although the MB’s foreign exchange reserve has increased on paper, this is not reflected in the net reserve.