Politics

Turkey net reserves ex-swaps hit $6 bln after turning positive, bankers say

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Turkey net reserves ex-swaps hit $6 bln after turning positive, bankers say

















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Reuters

Turkey net reserves ex-swaps hit $6 bln after turning positive, bankers say

Turkey net reserves ex-swaps hit $6 bln after turning positive, bankers say

ANKARA, June 10 (Reuters) –The Turkish central bank’s net foreign reserves excluding swaps rose to $6 billion last week, bankers said on Monday, continuing momentumafter they turned positive for the first time in four years a week earlier.

Since March 31 local elections, net reserves excluding swaps have risen by almost $72 billion, the bankers also said.

Official data last week showed that the central bank’s net international reserves rose $5 billion to $45.5 billion in the week to June 3, their highest level.

According to bankers calculations, net reserves rose another $2 billion last week to stand at $47.5 billion.

The central bank did not immediately comment on the bankers’ calculations. Official data will be released on Thursday at 1130 GMT.

Reporting by Nevzat Devrangolu; Writing by Tuvan Gumrukcu; Editing by Jonathan Spicer

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