The decline observed for some time in the reserves of the Central Bank of the Republic of Turkey (CBRT) gave way to an increase in the week of October 9. According to weekly data, total reserves rose by 4 billion 187 million dollars compared to the previous week.
Thus, the CBRT's total reserves increased from 167 billion 388 million dollars to 171 billion 575 million dollars. The increase in gross foreign exchange reserves was the determining factor in the recovery of the reserves.
According to CBRT data, gross foreign exchange reserves reached 64 billion 567 million dollars as of October 9, with a weekly increase of 4 billion 241 million dollars. Gross foreign exchange reserves were at the level of 60 billion 326 million dollars the previous week.
In the same period, a limited decline was recorded in gold reserves. Gold reserves decreased by 54 million dollars, falling from 107 billion 62 million dollars to 107 billion 8 million dollars.
An upward movement was also seen in net reserves. Net reserves rose by 4 billion dollars on a weekly basis to 57.7 billion dollars. The increase in net reserves excluding swaps was 6.4 billion dollars, and this item rose to 44.2 billion dollars.
News Source: 12punto
