Central Bank’s reserves carried their upward trend to the 8th week

While the total reserves of the Central Bank of the Republic of Turkiye (CBRT) increased by $1 billion 817 million in the week of August 4 compared to the previous week and reached $115 billion 591 million, the upward trend was carried over to the 8th week in a row.

Weekly Money and Bank Statistics were published by the CBRT.

Accordingly, as of August 4, the gross foreign exchange reserves of the Central Bank increased by $1 billion 880 million to $74 billion 229 million. Gross foreign exchange reserves were at the level of $72 billion 349 million on 28 July.

In the said period, gold reserves decreased by $63 million from $41 billion 425 million to $41 billion 362 million.

Thus, the Central Bank’s total reserves increased from $113 billion 774 million to $115 billion 591 million in the week of August 4, with an increase of $1 billion 817 million compared to the previous week.

While the upward trend in reserves carried over to the 8th week in a row, the increase in reserves in the last two months reached $17.1 billion. In this period, net reserves increased by $20.1 billion to $15.7 billion.

Analysts drew attention to the fact that the increase in reserves continued in August, when the return of Currency Protected Deposits (KKM) was at a record level, and stated that the steps taken by the economy administration after the election were effective in this course.

Source: AA / Prepared by Irem Yildiz

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