Turkish Central Bank reserves hits $120.6 billion

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)