CBRT Total Reserves Rise to $188.4 Billion
While the Central Bank's total reserves increased by approximately $4.9 billion in one week, the strong growth in gold reserves played a key role in this rise.
According to weekly money and bank statistics announced by the Central Bank of the Republic of Turkey, total reserves recorded a significant increase in the week ending August 21 compared to the previous week.
General Increase in Reserves
The total reserves of the Central Bank of the Republic of Turkey increased by $4 billion 949 million in the week ending August 21 compared to the previous week, reaching $188 billion 449 million.
Gross Foreign Exchange Reserves
According to the released data, the Central Bank's gross foreign exchange reserves decreased by $938 million in the same period, dropping to $74 billion 228 million.
Rise in Gold Reserves
A notable increase took place in gold reserves during the same period, playing a decisive role in the rise of total reserves.
Gold reserves increased by $5 billion 886 million, rising from $108 billion 334 million to $114 billion 221 million.
Trend in July and August Period
A steady upward trend was observed in reserves starting with July, and total reserves recorded gradual weekly increases.
While total reserves stood at $183 billion 500 million in the week ending August 14, they were recorded at $188 billion 449 million as of August 21.