The Turkish central bank's total reserves exceeded the $200 billion threshold for the first time in the week ending Jan. 16, according to official figures released by the bank on Thursday.
The total gross reserves surged 4.6%, or $9.1 billion, to $205.2 billion, from the previous week's $196.1 billion, the Central Bank of the Republic of Türkiye (CBRT) said, surpassing another historic threshold in its reserve position.
Foreign currency reserves, in convertible foreign currencies, rose 6.7% to $76.4 billion compared to the previous week. The bank's gold reserves, including gold deposits and, if appropriate, gold swaps, climbed 3.7% to $121 billion in the same period.
Net reserves, which were $82.9 billion a week before, increased by $8.1 billion to $91 billion. When swap transactions with domestic and foreign banks are excluded, the net reserve position improved from $70.1 billion to $78.8 billion.
Commenting on the data, Treasury and Finance Minister Mehmet Şimşek said: "Our reserves are at their historical peak."
"Thanks to the program we implemented, gross reserves increased by approximately $107 billion, reaching $205.2 billion," he said in a post on X.
"The rise in net reserves excluding swaps amounted to $139.3 billion," he added, also pointing out that the reserve adequacy in line with international standards was achieved.
Moreover, he suggested that the authorities were "successfully completing the exit process from the $143 billion KKM scheme," referring to currency protected deposit scheme, which he said was "a significant contingent liability."
"As a results a total improvement of more than $280 billion has been realized in foreign exchange position," he maintained.
"The strengthened macrofinancial stability is making a significant contribution to the reduction in our risk premium, and our economy is becoming more resilient against shocks," the minister also said.
The Turkish central bank plans to increase its international reserves as long as market conditions allow, under Türkiye's newly introduced pre-accession economic reform program, Anadolu Agency (AA) reported on Wednesday, citing the details from the new program.
According to the program prepared by the Presidency of Strategy and Budget and covering the 2026-2028 period, the bank will continue to prioritize financial stability while managing its reserves with an emphasis on safety, liquidity and return.
The CBRT, despite temporary fluctations, has been steadily building its reserves since a shift to more conventional economic policies in the middle of 2023.
Earlier on Thursday, the bank cut its main interest rate by 100 basis points to 37%, continuing an easing cycle with a more cautious approach, as it cited that "leading indicators suggest that monthly consumer inflation has firmed in January, led by food prices," adding, however, that the rise in the underlying trend of inflation "is limited."
