Türkiye's Central Bank reserves climb by $221 million as gold holdings increase
The Central Bank of the Republic of Türkiye (CBRT) released its latest Weekly Money and Banking Statistics report, showing a moderate increase in its total reserves for the week ending on November 1.
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According to the data, CBRT’s total reserves rose by $221 million, reaching $159.619 billion. This growth was driven primarily by an increase in gold reserves, which saw a boost of $720 million during the week, rising from $65.894 billion to $66.614 billion.
In contrast, gross foreign exchange reserves decreased by $499 million, from $93.504 billion to $93.005 billion. Despite the drop in foreign exchange holdings, the overall increase in gold reserves contributed positively to the CBRT's total reserve levels.
The report highlights Türkiye's evolving reserve composition, with an emphasis on bolstering gold assets amid a slight reduction in foreign exchange reserves. The CBRT continues to monitor and adjust its reserve allocations as part of its broader financial strategy. (ILKHA)
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