Central Bank Reserves Rise Again
The Central Bank of the Republic of Turkey (CBRT) reported that total reserves increased by $1.4 billion to $185 billion after a two-week losing streak.
According to the CBRT’s International Reserves and Foreign Currency Liquidity data, as of November 7 total reserves rose 0.8% to $185 billion.
Breakdown of Reserve Components
Foreign exchange assets increased by 2.2% to $74.3 billion compared to the previous week, while gold reserves fell 0.1% to $103.1 billion. The IMF reserve position and SDR holdings declined 0.4% to $7.7 billion.
Previous Record Level
The Central Bank’s reserves had previously reached a record high of $198.4 billion in the week ending October 17, supported by rising gold prices.
