Turkey's central bank added 16 metric tons of gold back to its reserves after a dollar-gold swap matured, according to central bank data released Thursday. The transaction closes out a series of swaps running since the start of the Iran war, and pushes the bank's international gold holdings to 791.4 tons.
Turkey's central bank received 16 metric tons of gold back into its reserves after a U.S. dollar-gold swap reached maturity, according to central bank data released Thursday. The move restores metal that had been swapped out for dollars.
Bankers said the swap was valued at approximately $1.8 billion and marked the final transaction in a series conducted since the start of the Iran war. Previous swaps in the series had rolled over upon reaching maturity.
As a result, international gold reserves rose by 16 tons last week to 791.4 tons, central bank data showed. The central bank declined to comment on the transaction.
Source: Economy News
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