business

Money came from South Korea with swap

CBT According to the calculation made by the bankers from the analytical balance sheet and the reserve data announced today. 2 billion dollars equivalent About half of the first deal in local currencies was also deposited in the accounts.

All swap agreements of the CBRT are made in local currencies.

Swap agreement between South Korea and Turkey in August 2021 had been signed.

of the CBT 6 billion dollars with China, 15 billion dollars with Qatar, with the United Arab Emirates approximately 5 billion dollars and 2 billion dollars with South Korea total, including $28 billion swap deal exists.

The CBRT did not comment on the subject.

DEPOSIT WAREHOUSE ACCOUNTS INCREASING

More recently, the CBRT has been increasing its reserve currency deposit accounts rather than swap agreements. President of the AKP, Recep Tayyip Erdo─čan, was also experiencing an increase in reserves. “friendly countries support” he said.

Azeri Socar’s 1 billion Euros in the CBRT deposit/warehouse about which central bank has not yet been disclosed. $2 billion deposit/deposit His account was already reserved last month.

Another prominent transaction that supported the reserves in the recent period was the transfer of approximately $5 billion in two rounds by Russian Rosatom for the construction of a nuclear power plant. In the same period, this transaction came to the CBRT as a swap of approximately 6.1 billion dollars.

The markets are also watching whether Rosatom will transfer new funds for the 20 billion dollar power plant in the coming period.

WHAT IS A SWAP AGREEMENT?

A swap contract in which two parties exchange different interest payments and/or different currencies within a certain period of time is called a swap contract.

In the swap market, weighted currency swaps and interest-based swap contracts are traded.

In an interest rate swap, the two parties, one borrowing at a fixed rate and the other at a variable rate, exchange interest payments, but the principal never changes hands.

Related Articles

Back to top button