Turkish central bank reserves reach $157.4B

File photo shows close-up image of Turkish 100 lira banknotes. (AA Photo)

The Central Bank of Republic of Türkiye's (CBRT) reserves increased by $1.07 billion in the week of Oct. 11, bringing total reserves to $157.4 billion, the highest in recent months.

Foreign exchange reserves see growth

According to CBRT's weekly data release, the gross foreign exchange reserves climbed by $881 million, reaching $93.6 billion. This marks an increase from the previous week's figure of $92.7 billion. CBRT also released monthly data.

Official reserve assets and other foreign currency assets (approximate market value) (Data via Central Bank of Türkiye)

Gold reserves also show increment

Besides foreign exchange reserves, the central bank's gold reserves also saw growth. Gold reserves rose by $190 million, increasing from $63.5 billion to $63.7 billion during the same period.

By numbers

Total reserves (Oct. 11): $157.4 billion
Gold reserves: Increased by $190 million, reaching $63.74 billion.
Foreign exchange reserves: Rose by $881 million to $93.64 billion.

Predetermined short-term net drains on foreign currency assets (nominal value). (Data via Central Bank of Türkiye)

The central bank's reserves have been on a steady incline since the beginning of 2023. For example, at the end of June, total reserves stood at $142.9 billion, reflecting a strong upward trend throughout the year.

October 17, 2024 05:50 PM GMT+03:00