ANKARA - Turkish Central Bank announced on Thursday that its foreign currency reserves dropped by 522 million USD to 59.048 billion USD between May 26th and June 2nd, 2006.
Releasing a weekly press bulletin, the Central Bank indicated that its total gross reserves reduced by 884 million USD to 89.4 billion USD on May 18th, 2006. Of that, 17.2 billion USD was from privately-owned institutions, including commercial banks while the Central Bank held the rest. Total gross reserves were 80.3 billion USD on May 12th, 2006.
Meanwhile, Turkey repaid 116.68 million USD in foreign debt between June 1st and 7th.