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The Central Bank of the Republic of Türkiye (CBRT) reserves pulled back sharply in the week ending April 24, sliding by $3.4 billion to $171 billion compared to the previous week as declining gold prices weighed heavily on total holdings.
Gold holdings posted the steepest drop during the period, falling by $2.5 billion to $110.1 billion from $112.6 billion. The decline came as spot gold prices eased by 2.5%, ending the week near $4,700.
Gross FX reserves also declined modestly, falling by $870 million to $61 billion.
Net international reserves also head lower, dropping by $4.1 billion on the week to $54.2 billion. Reserves excluding swaps fall by $3.3 billion to $36.4 billion after nearing $40 billion the previous week.
Despite the decline in reserves, foreign investors continued to add to Turkish assets. Non-residents purchased $328.1 million in equities and $193.6 million in government bonds, marking the third consecutive week of net inflows that reversed capital outflows during the peak of the Iran conflict.
Since the start of the war, capital inflows into Turkish equities have reached $42.1 million, while total outflows from bonds stand at $5.7 billion.
Meanwhile, total deposits in Türkiye’s banking sector dropped significantly during the same period.
Deposits fell by ₺314 billion, bringing the total down to ₺30.3 trillion. Foreign currency deposits also dipped by 1% to $272.4 billion.
On the lending side, consumer loans continued to grow. Domestic residents’ consumer credit rose by 1.4% week-on-week, reaching ₺6.215 trillion.
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