Türkiye’s central bank reserves jumped by about $13.7 billion in the week ending Aug. 7, reaching approximately $178.2 billion, the highest level since the week ending March 20, according to the data.
The increase reverses a sharp decline after the Iran war erupted in late February, as capital outflows drove the reserve drawdown. A week earlier, reserves had stood at $164.4 billion.
Gold drives part of July recovery
The latest increase followed a broader recovery that began in July, after official reserve assets stood at $147.4 billion at the end of June. During July, reserves increased by about $17 billion, or roughly 11.5%, from the end-June level.
Gold reserves stood at $94.3 billion at the end of June and climbed to $100.6 billion by July 31, an increase of about $6.4 billion over the month, accounting for much of the movement in official reserve assets.
The rise largely stemmed from rebounding gold prices, with spot prices rising more than 7% to above $4,300 per ounce last week.
Foreign-currency positions also improved during the month, while short-term foreign-currency outflows declined. Short-term foreign-currency outflows stood at $38.4 billion on July 31,down from $42.3 billion at the end of June.
Aggregate short positions in forwards and futures against the Turkish lira stood at $16.7 billion, compared with $17.7 billion at the end of June.
Reserves rebound from one-year low
Reserves had followed a volatile and largely downward path after reaching a record $218.2 billion in the week ending Jan. 30, 2026. They fell sharply in March and continued to weaken into June.
They hit $149.2 billion in the week ending June 26, their lowest level since June 2025, before turning higher in July. Reserves reached $164.5 billion by the week ending July 31 and then climbed further in the latest week.
Despite the latest recovery, reserves remain about $40 billion below their January record, based on the latest $178.2 billion level.
Source: turkiyetoday