The gross reserves of the Turkish central bank reached a new peak in the week ending Jan. 30, maintaining a positive streak observed lately, largely boosted by soaring gold prices, official data showed on Thursday.
International reserves assets of the Central Bank of the Republic of Türkiye (CBRT) climbed to $218.2 billion (TL 9.5 trillion) as of Jan. 30, according to weekly statistics released by the bank.
That compared to the previous record of $215.6 billion in the week ending Jan. 23 and $205.2 billion a week before that.
Like this, a weekly increase of nearly $2.6 billion, or 1.2%, was seen in the week to Jan. 30.
Foreign currency reserves – in convertible foreign currencies – were down 2.4% to $76.6 billion compared to the previous week. The bank's gold reserves – including gold deposits and gold swaps – climbed 3.4% to $133.8 billion in the same period.
The total IMF reserve position and special drawing rights (SDRs) also rose 1.2% to reach $7.8 billion, the bank said.
On Jan. 16, the bank's reserves crossed the $200 billion mark for the first time.
The CBRT, despite temporary fluctations, has been steadily building its reserves since a shift to more conventional economic policies in the middle of 2023.
