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Turkey under no pressure to repatriate gold.

Global Banking News-April 13, 2015--Turkey under no pressure to repatriate gold

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Global Banking News - 13 April 2015

The Turkish government has said that it is under no pressure to repatriate gold from foreign central banks.

The central bank said that it is not in any hurry to repatriate gold from the US Fed or the Bank of England. The country currently holds a portion of its 510.3 tonnes of reserves in the vaults of both the central banks.

An official with the central bank said, 'We do not have any pressure on us at the moment [to repatriate reserves]. Having our gold kept in traditional centres has a value in terms of liquidity, which is key to the reserve management.'

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Publication:Global Banking News (GBN)
Date:Apr 13, 2015
Words:150
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