Turkey net reserves ex-swaps hit $12 bln after turning positive, bankers say
ANKARA, June 24 (Reuters) -The Turkish central bank's net foreign reserves excluding swaps rose to $12 billion last week, two bankers said on Monday, continuing their upward momentum after they turned positive three weeks ago.
Since local elections on March 31, net reserves excluding swaps have risen by almost $78 billion, the bankers said.
Official data showed that the central bank's net international reserves rose $2 billion to $47.5 billion in the week to June 7. Net reserves dropped $500 million in the week of June 14, the data showed.
According to bankers' calculations, net reserves dropped a further 2.5 billion last week to stand at $44.5 billion.
Turkey observed a three-day bank holiday last week.
The central bank did not immediately comment on the bankers' calculations. Official data will be released on Tuesday at 1130 GMT.
Reporting by Nevzat Devranoglu, Writing by Ezgi Erkoyun
Editing by Gareth Jones
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