Weekly money and banking statistics published by the Central Bank of the Republic of Turkey (CBRT) have revealed the latest status of reserves. According to the data, the Central Bank's total reserves decreased by 2 billion 478 million dollars in the week ending October 16 compared to the previous week. With this decline, total reserves fell from 171 billion 575 million dollars to 169 billion 97 million dollars.
DECLINE IN GOLD AND FOREIGN CURRENCY
According to the weekly data, a significant decline was also recorded in gross foreign exchange reserves. Gross foreign exchange reserves, which were at the level of 64 billion 567 million dollars on October 9, decreased by 2 billion 419 million dollars as of October 16, falling to 62 billion 148 million dollars.
During the same period, gold reserves also experienced a loss. Gold reserves, which were at the level of 107 billion 8 million dollars the previous week, fell to 106 billion 949 million dollars with a decrease of 59 million dollars. The announced figures revealed that the simultaneous decline on both the foreign currency and gold fronts triggered the decrease in total reserves.
News Source: 12punto
