Turkish Central Bank reserves hits $120.6 billion
In its latest weekly report on money and banking statistics, the Central Bank of the Republic of Türkiye (CBRT) has revealed a notable surge in its foreign exchange reserves.
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As of September 1, 2023, the CBRT's gross foreign exchange reserves have risen by a substantial $2.811 billion, reaching a total of $78.766 billion.
This marks a significant increase from the previous week, when the reserves stood at $75.955 billion on August 25.
During the same period, the CBRT's gold reserves also experienced a noteworthy uptick, climbing by $514 million from $41.344 billion to $41.858 billion.
In total, the Central Bank of Turkey's reserves have seen an impressive increase of $3.325 billion within the week ending on September 1.
The reserves now stand at a robust $120.624 billion, up from the previous week's total of $117.299 billion.
These developments signal positive momentum in Türkiye's foreign exchange holdings and reflect the country's efforts to strengthen its financial stability.
The increase in reserves can have far-reaching implications for the nation's economic outlook and financial resilience. (ILKHA)
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