Total gross reserves of the Turkish central bank broke a new record in the last week of August, official data released on Thursday revealed.
The volume of reserves rose to an all-time high of $178.4 billion as of Aug. 29, according to the weekly data published by the Central Bank of the Republic of Türkiye (CBRT). A week earlier, reserves stood at $176.3 billion.
Accordingly, as of Aug. 29, the central bank's gross foreign exchange reserves decreased by $59 million to $91.03 billion. Gross foreign exchange reserves stood at $91.09 billion on Aug. 22.
Foreign currency reserves – in convertible foreign currencies – fell 0.1% to $83.3 billion compared to the previous week.
The bank's gold reserves, including gold deposits and, if appropriate, gold swaps, climbed 2.5% to $87.3 billion in the same period.
Net reserves surged from $71.8 billion to $73.7 billion during the same period.
Net reserves excluding swaps also rose to $56.9 billion. The previous week, net reserves excluding swaps were at $54.7 billion, according to the data.
