Decline in Central Bank of the Republic of Turkey Gross Reserves
While the Central Bank's gross reserves declined in the first week of October, a limited increase was recorded in net reserves.
The gross reserves of the Central Bank of the Republic of Turkey decreased by $3.8 billion in the week ending October 2, falling to $167.4 billion and seeing their lowest level in nearly the last two months.
Downward Trend in Gross Reserves
According to data from the Central Bank of the Republic of Turkey, the downward momentum observed in gross reserves recently continued without slowing down in the first week of October.
With the $3.8 billion decrease that occurred in the week in question, the total gross reserve amount retreated to the level of $167.4 billion.
Limited Rise in Net Reserves
Despite the decline experienced in gross reserves, a temporary pause was put on the downward momentum on the net reserves front as of this week.
According to the official data released, net reserves managed to record an increase of approximately $400 million, climbing to the level of $53.8 billion.
Net Reserves Data Excluding Swaps
According to the weekly statistical data announced by the Central Bank, net reserves excluding swaps showed a downward trend in the relevant period.
The net reserves excluding swaps item dropped to a total of $37.9 billion with a $2.8 billion decline that occurred in the week of October 2.