Türkiye’s central bank boosts reserves to $167.5 billion
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Güneşli
13 oC
Güneşli
The Central Bank of the Republic of Türkiye (CBRT) saw its total reserves increase by $1.517 billion to $167.492 billion in the week ending February 7th, according to the bank's weekly money and banking statistics.
While total reserves grew, the composition shifted, with a decrease in gross foreign exchange reserves offset by a significant increase in gold reserves.
Gross foreign exchange reserves fell by $382 million to $96.929 billion. Conversely, gold reserves rose sharply by $1.899 billion, reaching a total of $70.563 billion.
The overall increase in reserves continues a trend observed since the end of January, suggesting the Central Bank is actively replenishing its reserves. Total reserves stood at $165.975 billion on January 31st.
The fluctuation in reserves reflects the Central Bank’s strategic financial maneuvers in response to economic dynamics.
The CBRT continues to monitor and adjust its reserve holdings in response to domestic and international economic conditions, aiming to maintain stability in Türkiye's financial system. (ILKHA)
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