Türkiye's central bank reserves are projected to have increased last week to their highest level in five months, bringing the rebound since late June to nearly $40 billion, according to calculations.

The total reserves of the Central Bank of the Republic of Türkiye (CBRT) rose by an estimated $5.3 billion in the week ending Aug. 21, reaching $188.8 billion, calculations by Matriks Haber showed.

Total reserves stood at $183.5 billion in the previous week. The latest increase extends the recovery that began after reserves fell to a roughly six-month low in late June.

Reserves had dropped to $149.2 billion in the week ending June 26, before recovering to $164.4 billion by the end of July. The pace of the rebound accelerated in August, with reserves rising to $178.4 billion on Aug. 7 and $183.5 billion a week later.

The latest increase would bring total reserves to their highest level since the week ended March 13.

Rebound since June

The estimated figures show that reserves have increased by about $39.6 billion from their June 26 low.

The recovery has been particularly strong over the past four weeks, with reserves gaining about $10.4 billion between July 31 and Aug. 21.

CBRT total reserves had reached a record $218.2 billion in late January.

The figures for the last week are scheduled to be published Thursday.