The total reserves of the Turkish central bank are estimated to have increased by more than $7 billion (TL 302.15 billion) last week to $196.5 billion, according to a report on Tuesday citing bankers' calculations.
The Central Bank of the Republic of Türkiye (CBRT) was seen buying $6 billion, and around $1.7 billion of the increase was due to a rise in global gold prices, bankers said.
Three bankers consulted by Reuters calculated that net reserves rose by $6.5 billion to $83 billion in the week ending Jan. 9.
The total reserves of the CBRT decreased by $4.78 billion in the week of Jan. 2 compared to the previous week, falling to around $189.1 billion, according to official data.
Despite temporary fluctuations, the Turkish central bank has been building up its reserves in recent months, while also being supported by a surge in global gold prices.
Gold prices briefly touched $4,600 per ounce on Monday, marking a new record high amid sharpened geopolitical and economic uncertainty.
Türkiye's total gross reserves surpassed $198 billion in October, marking a new all-time high and approaching $200 billion.
The bankers' calculations are based on preliminary data from the central bank. Official weekly data will be released on Thursday afternoon.
