Central Bank reserves rise to $159.7 billion

The Central Bank of the Republic of Turkey (CBRT) total reserves recorded a significant increase in the week of July 3. Reserves rose by $10.489 billion compared to the previous week, reaching $159.694 billion. This increase was driven by a rise in total foreign exchange and gold reserves. According to central bank data, gross foreign exchange reserves increased by $10.489 billion to $159.7 billion. Gold reserves, however, decreased by $1.2 billion during the same period to $56.8 billion. The improvement in net reserves was notable as net reserves excluding swaps turned positive. Analysts indicate that this increase in reserves was supported by foreign inflows and the CBRT's foreign exchange purchase auctions. In particular, net reserves excluding swaps rose by $1.5 billion to $14.2 billion, which was positively received by markets. This development may contribute to maintaining stability in the Turkish lira. Experts emphasize that this rise in reserves is important for combating inflation and financing the current account deficit. However, it is also noted that global risks and geopolitical developments could exert pressure on reserves. This is not investment advice.