Turkey’s central bank increased its international gold reserves by 16 metric tons last week after a U.S. dollar-gold swap reached maturity, raising total holdings to 791.4 tons.
The transaction, valued at approximately $1.8 billion, was the final swap in a sequence that began following the outbreak of the Iran war. Previously, maturing swaps had been rolled over rather than settled, according to bankers familiar with the matter.
The central bank disclosed the reserve adjustment on Thursday but declined to comment on the transaction or provide further details regarding the swap’s terms or counterparties.
