Türkiye's Central Bank reserves climb by $221 million as gold holdings increase
The Central Bank of the Republic of Türkiye (CBRT) released its latest Weekly Money and Banking Statistics report, showing a moderate increase in its total reserves for the week ending on November 1.
According to the data, CBRT’s total reserves rose by $221 million, reaching $159.619 billion. This growth was driven primarily by an increase in gold reserves, which saw a boost of $720 million during the week, rising from $65.894 billion to $66.614 billion.
In contrast, gross foreign exchange reserves decreased by $499 million, from $93.504 billion to $93.005 billion. Despite the drop in foreign exchange holdings, the overall increase in gold reserves contributed positively to the CBRT's total reserve levels.
The report highlights Türkiye's evolving reserve composition, with an emphasis on bolstering gold assets amid a slight reduction in foreign exchange reserves. The CBRT continues to monitor and adjust its reserve allocations as part of its broader financial strategy. (ILKHA)
LEGAL WARNING: All rights of the published news, photos and videos are reserved by İlke Haber Ajansı Basın Yayın San. Trade A.Ş. Under no circumstances can all or part of the news, photos and videos be used without a written contract or subscription.
Türkiye, Iran, and Afghanistan have signed a landmark memorandum of understanding (MoU) to strengthen railway cooperation, marking a significant step toward regional transport integration, officials from the three nations confirmed on Friday.
The Central Bank of the Republic of Türkiye (CBRT) has announced a 100 basis point cut in its benchmark one-week repo auction rate, lowering it from 40.5 percent to 39.5 percent, as part of its latest monetary policy decision.
Pizza Hut, one of the world’s most recognizable fast-food brands, is set to close 68 of its restaurants across the United Kingdom after the company behind its UK dine-in venues, DC London Pie Limited, fell into administration.
Türkiye’s gross domestic expenditure on research and development (GERD) reached 651 billion 822 million TRY in 2024, marking a substantial increase of 274 billion 279 million TRY compared to the previous year, the Turkish Statistical Institute (TÜİK) reported on Monday.