Saudi Arabia deposited 5 billion dollars in the Central Bank of Turkey to help earthquake-stricken Turkey.
Saudi Arabia has announced that it has signed a five billion dollar deposit agreement with Turkey in the central bank. This deposit of Saudi Arabia will support the foreign reserve and currency of earthquake-affected Turkey.
According to the statement issued by the Saudi Fund for Development, this is proof that the two countries have close cooperation and historic brotherly relations. This important decision has been taken on the instructions of Saudi King Salman and Crown Prince Mohammed bin Salman.
It should be noted that Turkey’s foreign exchange reserves were just over $6 billion last summer and were at their lowest level in at least 20 years. About 8.5 billion dollars have been lost.
Turkey’s foreign exchange reserves have declined sharply in recent years in the wake of government intervention in the market and a currency crisis in December 2021.
