Downward trend in CBRT gross reserves continues for the fifth consecutive week
Central Bank gross reserves declined in the last week of September, dropping to a two-month low as the streak of declines reached five weeks.
The gross foreign exchange reserves of the Central Bank of the Republic of Turkey decreased by 3.2 billion dollars in the week ending September 25, falling to 171.2 billion dollars.
Five-Week Decline in Gross Reserves
According to data published by the Central Bank of the Republic of Turkey, the downward trend in gross reserves continued uninterrupted for its fifth week.
With the 3.2 billion dollar decrease experienced over the past week, total gross reserves have receded to the 171.2 billion dollar level.
Lowest Level in Two Months
With this latest decline, the gross reserves of the Central Bank of the Republic of Turkey have dropped to their lowest level in the last two months.
Market data and figures shared by the CBRT reveal that the loss of momentum in reserves has deepened periodically.
Net Reserves and Swap Developments
In the same week, net reserves also recorded a 2.5 billion dollar drop, falling to a total of 53.4 billion dollars.
According to calculations, net reserves excluding swaps decreased by 3.2 billion dollars to 39.9 billion dollars.
Significant Melt in the Last Month
As a result of the latest calculations, net reserves excluding swaps melted by 16 billion dollars within just the last month alone.
This situation causes reserve movements to be closely monitored regarding current balances in financial markets.