The Central Bank of the Republic of Turkey (CBRT) continues to improve its reserves. The Central Bank’s net foreign exchange reserves, excluding swaps, increased by $4 billion last week to $22 billion. In the three months following the local elections, reserves increased by approximately $87 billion.
According to bankers’ calculations, the total foreign exchange reserves of the Central Bank increased by approximately $5.5 billion in the weekend ending July 12, reaching a new historical peak of $153.8 billion. Net reserves excluding swaps became positive for the first time in four years, reaching $1.5 billion in the week of May 31. According to the data, the increase in net reserves excluding swaps in the 15 weeks following the local elections amounted to $87 billion. Reserves, which were previously at historical lows, showed a significant recovery during this period.
According to calculations, the CBRT’s net international reserves increased by approximately $4 billion last week to $47.5 billion. Official data will be announced at 14:30 on Friday.
