Turkish Central Bank

Turkey's net international investment position (NIIP) continued recovering this July, with the overall figure being 26.2 percent lower than at the end of last year, the Turkish Central Bank said on Sept. 20.

The country's external assets grew 10.3 percent to $282 billion, while its liabilities against non-residents fell 11.8 percent to $572 billion, the latest data showed.

The Turkish Central Bank's total reserves rose by $944 million to hit $120.1 billion last week, for the first time since November 2016.

According to weekly money and bank statistics published by the bank, the gross foreign exchange reserves increased by $1.6 billion to $79.6 billion on Sept. 10, from $78.5 billion on Sept. 3.

The Turkish private sector's outstanding external loans stood at $173.3 billion in July, decreasing by $130 million compared to the end of 2020, the Turkish Central Bank said on Sept. 15. 

Excluding trade credits, the sector's short-term loans received from abroad were at $9.5 billion in July, down $240 million from the end of last year.

The Turkish Central Bank signed an agreement with defense and technology firms Aselsan and Havelsan, and the Scientific and Technological Research Council of Turkey (TÜBİTAK) for the research, development and testing processes of potential digital Turkish lira.

Turkey's current account balance posted a deficit of $683 million, down $1.3 billion from the same month last year, the Turkish Central Bank announced on Sept. 13.

With July figures, the current account deficit saw its eleven-month low.

According to the balance of payments figures released by the bank, the country's 12-month rolling deficit totaled almost $27.8 billion.

The Turkish Central Bank's total reserves stood at $105.8 billion as of July 31, the bank announced on Aug. 27.

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Official reserve assets jumped 8.3% compared to $97.7 billion as of end-June, according to the bank's international reserves and foreign currency liquidity report.

Turkish Central Bank's reserves will surpass $115 billion when pending transactions are completed, Turkey's president said on Aug. 24. 

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The bank's official reserves so far stand at $109 billion, Recep Tayyip Erdoğan said at the meeting of AKP provincial heads in the capital Ankara.

Turkey's net international investment position (NIIP) showed a recovery this June, falling 25% compared to end-2020, the Turkish Central Bank said on Aug. 19. 

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The country's external assets climbed 7.4% to $274.4 billion while its liabilities against non-residents slipped 12.4% to $555 billion in the same period.

Turkey's current account balance posted a deficit of $1.127 billion in June, down $1.95 billion from the same month last year, the Turkish Central Bank announced on Aug. 13.

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With June figures, the current account deficit continued to narrow for the fourth month in a row.

The Turkish and South Korean central banks have signed a bilateral swap agreement allowing for the exchanging of local currencies of up to 2.3 trillion Korean won or 17.5 billion Turkish liras (around $2 billion), said an official announcement.

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