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    Turkey’s gold and currency reserves shrink by 3 bln USD

    Decline features capital outflow from developing countries

    Baku. 26 January. REPORT.AZ/ Turkey’s total international reserves dropped by 2.996 bln USD or 2.71% to 107.563 bln USD.

    Report informs referring to Turkish Central Bank’s (TCMB) weekly statistical report released today, TCMB’s gold reserves remained unchanged, 15.267 bln USD. Currency reserves dropped by 2.996 bln USD or 3.15% to amount 92.296 bln USD.

    Notably, devaluation of lira and capital outflow stipulate decrease of currency reserves in Turkey. 

    This tendency is expected to continue in developing countries for some time. 

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