Remarkable recovery in CBRT reserves!

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Lerato Khumalo

The Central Bank of the Republic of Türkiye (CBRT) announced weekly money and bank statistics.

Accordingly, the recovery in the Central Bank’s reserves continued in the week of August 14.

While net reserves excluding swaps increased to 54.3 billion dollars, an increase of 16 billion dollars was recorded in this item in the last three weeks.

As of August 14, the Central Bank’s gross foreign exchange reserves increased by 4 billion 144 million dollars and reached 75 billion 166 million dollars.

Gross foreign exchange reserves were at the level of 71 billion 22 million dollars on August 7.

During this period, gold reserves increased by 990 million dollars, from 107 billion 345 million dollars to 108 billion 335 million dollars.

Thus, the CBRT’s gross reserves increased by 5.1 billion dollars in the week of August 14, reaching 183.5 billion dollars. Thus, gross reserves reached their highest level since mid-March.

Net reserves also increased by 4.2 billion dollars in the same week, reaching 67.1 billion dollars.