The total reserves of the Turkish central bank are estimated to have increased by more than $10 billion last week to reach a new all-time high, according to bankers.
The Central Bank of the Republic of Türkiye's (CBRT) reserves hit a record $205.2 billion after surging $9.1 billion in the week ending Jan. 16.
Last week's increase is expected to have lifted that peak to $215.5 billion, bankers said. The CBRT is said to have bought $2 billion in the week ending Jan. 23, and around $6.5 billion of the increase is said to be due to a rise in global gold prices.
Three bankers consulted by Reuters calculated that net reserves rose by $6 billion to $97 billion in the week ending January 23.
The calculations are based on preliminary data from the central bank. Official data will be released on Thursday.
Gold has surged 18% so far in 2026, building on gains from last year due to factors including sustained safe-haven demand amid geopolitical and economic uncertainty, expectations of U.S. rate cuts, and robust central bank purchases.
Prices increased 8% last week alone. Spot gold rose 1.6% to $5,092.09 per ounce as of 1012 GMT on Tuesday. It hit an all-time high of $5,110.50 on Monday.
The CBRT, despite temporary fluctations, has been steadily building its reserves since a shift to more conventional economic policies in the middle of 2023.
A new program earlier this month showed the central bank plans to increase its international reserves as long as market conditions allow.
The bank will continue to prioritize financial stability while managing its reserves with an emphasis on safety, liquidity and return, according to the program prepared by the Presidency of Strategy and Budget and covering the 2026-2028 period.
