The massive surge in gold prices has helped the Turkish central bank's total reserve reach an all-time high for the second consecutive week, official data showed on Thursday.
The Central Bank of the Republic of Türkiye's (CBRT) reserves rose by more than $10 billion to hit a record $215.6 billion in the week ending Jan. 23, according to official figures.
That marked a $10.4 billion increase from the previous week's peak of $205.2 billion.
Thursday's data showed CBRT's net foreign reserves rose from $91 billion to $97.4 billion. Excluding swaps, net reserves jumped from $78.8 billion to $85.4 billion.
The bank's foreign currency reserves rose 2.7% from the previous week to $78.5 billion.
The gold reserves climbed from $121 billion to $129.4 billion.
Gold extended its record-breaking rally on Thursday and was on track for its best monthly performance since 1973, as rising economic and geopolitical uncertainties drove investors to the safe-haven metal.
Spot gold was 2.1% higher at $5,514.03 an ounce by 08:52 a.m. ET (1352 GMT), after earlier touching $5,594.82. Gold has gained over 28% so far this month.
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 bank plans to increase its international reserves as long as market conditions allow.
