Statement on 'reserves' from Mehmet Şimşek

Treasury and Finance Minister Mehmet Şimşek made a post on the social media platform X regarding the news that "The CBRT's gross reserves reached 122.2 billion dollars, and net reserves excluding swaps were -56.3 billion dollars."

Stating that they will continue to accumulate international reserves to the extent that market conditions allow, Şimşek wrote the following:

"On September 29, gross foreign exchange reserves decreased by 3.3 billion dollars weekly to 122.2 billion dollars.

It is observed that gold prices and swap transactions were effective in this development.

During the period in question, while the domestic swap stock decreased by 2.2 billion dollars, the effect of the decline in gold prices was at the level of 1.1 billion dollars.

We are continuing our efforts to provide additional external resources to our country without slowing down. In this context, we held very productive meetings in London."