More significantly, net reserves, excluding swaps, have surged by $4 billion in the past week, reaching $22 billion.

This marks a substantial increase of around $87 billion since the local elections three months ago.

Bankers estimate that total foreign exchange reserves grew by roughly $5.5 billion in the week ending July 12.

This upward trend highlights the ongoing recovery and strengthening of Turkey's financial position. (ILKHA)