Total gross reserves of the Turkish central bank reached their peak, exceeding the figure of $173 billion (TL 6.28 trillion) as of Feb. 14, according to the official figures released by the bank on Thursday.
The reserves stood at $173.2 billion as of Feb. 14, the Central Bank of the Republic of Türkiye (CBRT) said.
The reserves rose 3.4%, or $5.6 billion, from the previous week's $167.5 billion, according to the bank.
Foreign currency reserves – in convertible foreign currencies – increased 4.2% to $93.3 billion compared to the previous week.
The bank's gold reserves – including gold deposits and, if appropriate, gold-swapped – were up by 2.7% to nearly $72.5 billion in the same period.
Net reserves excluding swaps also increased to $71.4 billion in the week of Feb. 14, the data revealed.
The net reserves excluding swaps were $65.1 billion the week before. The highest level previously recorded in net reserves excluding swaps was in May 2011. Thus, the CBRT reserves, free of all liabilities, reached their highest level.
The central bank has extended long momentum in the reserve build-up, while also tackling stubborn inflation.
