Turkish central bank reserves increase to $147.9B in July

The Central Bank of the Republic of Türkiye (CBRT) reported a notable increase in its official reserves, which reached $147.9 billion by the end of July. This marks a 3.5% rise compared to the previous month, reflecting the bank’s efforts to bolster its financial position.

Turkish central bank’s figures

• Foreign currency reserves: Grew by 7.5% month-on-month, totaling $83.2 billion in July. These reserves consist of convertible foreign currencies and represent a significant portion of the bank’s assets.
• Gold reserves: Decreased by 1.6%, amounting to $57.2 billion at the end of July. This includes gold deposits and, where applicable, gold-swapped reserves.