Economy in Turkey: TCMB experiences significant decrease in net reserves

While the Central Bank’s total reserves have been decreasing continuously for 6 weeks, net international reserves decreased by 6.14 billion dollars last week, reaching 22.44 billion dollars.

The total reserves of the Central Bank of the Republic of Turkey (CBRT) declined for the sixth consecutive week and ended last week with a decrease of 2.458 billion dollars.

According to CBRT data, gross reserves decreased by 3.613 billion dollars as of February 23, from 86.092 billion dollars to 82.479 billion dollars. Gold reserves increased by 1.155 billion dollars, rising from 48.116 billion dollars to 49.271 billion dollars.

Thus, total reserves decreased from 134.208 billion dollars to 131.750 billion dollars.