Turkey withdrew gold from Fed amid crisis

23 April 2018
222 Views

Turkey’s central bank withdrew gold reserves it held at the U.S. Federal Reserve and placed them at the Bank of International Settlements and the Bank of England amid a political crisis with the United States, Hurriyet columnist Uğur Gurses said citing a central bank report.

The reserves totaled 28.6 tons, Gurses said in a column on Tuesday. Furthermore, banks in Turkey have increased their reserves with the central bank in gold rather than foreign currency, placing 38.3 tons at the bank of England and 63.8 tons in the central bank’s accounts at the Istanbul Stock Exchange.

The purchases and movements of the gold, which resulted in a $4.2 billion increase in the central bank’s gold reserves, are numerical and do not explain the physical imports of gold into Turkey, which totaled $9.9 billion last year and contributed to the country’s widening current account deficit, Gurses said.

Source: ahvalnews

You may be interested

Weather forecast: Partly cloudy
GREECE
shares12 views
GREECE
shares12 views

Weather forecast: Partly cloudy

Panos - Oct 19, 2018

Partly cloudy and winds from variable directions are forecast for Friday. Wind velocity will reach 5 on the Beaufort scale.…

JOKER results: 18/10/2018
GREECE
shares31 views
GREECE
shares31 views

JOKER results: 18/10/2018

Panos - Oct 18, 2018

The winning numbers from the JOKER draw are as follows:

Travel to Greece: Where to go in Argolis, Peloponnese
GREECE
shares360 views
GREECE
shares360 views

Travel to Greece: Where to go in Argolis, Peloponnese

Panos - Oct 18, 2018

Located at just under a 2-hour drive from Athens, the Argolis peninsula in the Peloponnese region offers many different historical…

Leave a Comment

Your email address will not be published.