Five-Week Decline Recorded in Central Bank of the Republic of Turkey Reserves
Showing a downward trend for the past five weeks, the total reserves of the CBRT dropped below the 171 billion dollar level with a decrease exceeding 3 billion dollars in the last week of September.
According to weekly statistics announced by the Central Bank of the Republic of Turkey, total reserves experienced a significant drop in the week ending September 25, falling to 171 billion 204 million dollars.
Weekly Statistics Announced
The Central Bank of the Republic of Turkey shared the weekly money and bank statistics data closely monitored by financial markets with the public.
According to the official data released, the downward trend recently observed in the central bank's total reserves continued this week as well.
Decrease in Gross Foreign Exchange Reserves
According to the shared information, as of September 25, gross foreign exchange reserves recorded a decrease of 1 billion 245 million dollars compared to the previous week.
Thus, the gross foreign exchange reserves, which were at the level of 62 billion 808 million dollars the previous week, fell to 61 billion 563 million dollars with the decline.
Decline in Gold Reserves
Alongside foreign exchange items, a similar downward trend was observed in precious metal reserves, and assets lost value.
Gold reserves decreased by 1 billion 957 million dollars during the relevant period, falling from 111 billion 597 million dollars to the level of 109 billion 640 million dollars.
Level of Total Reserves
Following the item-based declines, the Central Bank's total reserves decreased by a total of 3 billion 201 million dollars compared to the previous week.
The total reserve size of 174 billion 405 million dollars dropped to 171 billion 204 million dollars with this decline experienced in the week of September 25.