Rise in gold prices boosts CBRT reserves
The rise in gold prices increased the Central Bank of the Republic of Turkey's net reserves by 2.5 billion dollars in one week.
12punto
The net reserves of the Central Bank of the Republic of Turkey (CBRT) increased by approximately 2.5 billion dollars in the week of November 28, according to calculations by bankers. The rise in gold prices was cited as the primary reason for this increase.
According to assessments made by five bankers, the CBRT's net reserves reached 72 billion dollars last week. During the same period, net reserves excluding swaps also rose by approximately 2.5 billion dollars to 57.5 billion dollars.
Bankers stated that this increase in reserves was entirely due to the change in gold prices. A 2.5 billion dollar increase was also observed in total reserves, bringing Turkey's total reserves to over 183 billion dollars.