Remarkable jump in Central Bank reserves

The Central Bank of the Republic of Turkey (TCMB) has released its weekly money and banking statistics. According to the data, the Central Bank's gross foreign exchange reserves increased by 3 billion 964 million dollars in the week ending May 8, rising to 60 billion 564 million dollars. In the previous week, May 1, this figure was reported as 56 billion 600 million dollars.

A notable increase was also observed in gold reserves during this period. Gold reserves rose by 2 billion 82 million dollars, climbing from 108 billion 883 million dollars to 110 billion 965 million dollars.

In total, the Central Bank's reserves saw an increase of 6 billion 46 million dollars in one week. Consequently, the total reserves of the TCMB reached 171 billion 529 million dollars from 165 billion 483 million dollars, indicating a growth rate of 3.7 percent.

News Source: 12punto