Turkey’s Total Reserves See Major Increase in One Week
(MENAFN) The total reserves held by the Central Bank of the Republic of Türkiye (TCMB) saw a significant uptick last week, climbing by $7.45 billion to reach $153.11 billion, according to data released on Thursday.
This marked a robust increase from the previous week’s figure of $145.66 billion, signaling a notable strengthening in the country’s financial buffers.
A substantial portion of this rise was attributed to a surge in the Central Bank’s gross foreign exchange reserves, which expanded by $3.7 billion. These reserves increased from $65.401 billion to $69.9 billion within just one week, underscoring improved foreign currency inflows and bolstering market confidence.
In tandem, the Central Bank’s gold holdings also posted a solid gain. Gold reserves rose by $3.76 billion, growing from $80.25 billion to $84.2 billion over the same period.
Combined, these upward movements in both foreign exchange and gold assets propelled Türkiye’s total official reserves to the $153.1 billion level, reflecting a sharp weekly increase and signaling improved monetary stability.
The Central Bank continues to closely monitor global and domestic financial developments as it aims to fortify its reserve position amid evolving economic conditions.
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