Saudi Arabia deposits $5 bln in Turkey’s central bank – statement – Reuters

Saudi Arabia deposits $5 bln in Turkey’s central bank – statement – Reuters

DUBAI, March 6 (Reuters) - Saudi Arabia has signed an agreement with Turkey to deposit $5 billion in the country's central bank through the Saudi Fund for Development (SFD), the fund said on Monday.

Saudi Minister of Finance Mohammed Bin Abdullah Al-Jadaan announced his country's intention to make the deposit in December.

While Turkey's net foreign exchange reserves rebounded from just over $6 billion last summer, when it was at its lowest in at least 20 years, they have lost some $8.5 billion since a massive earthquake hit the country's southern region early in February that killed more than 45,000 people and left millions homeless.