The Central Bank’s net reserve approaches bottom of 20 years

The Central Bank’s (CBRT) net international reserves fell by $2.4 billion to $8.2 billion last week. In January, this figure was at the bottom of 20 years with 7.6 billion dollars. Net reserves excluding swaps decreased to -54 billion dollars.

The Central Bank’s (CBRT) net international reserves fell by $2.37 billion last week, approaching the 20-year lows it last saw in mid-January.

According to weekly data published by the CBRT, net international reserves, which have declined in seven of the last eight weeks, have decreased to $ 8.15 billion.

The CBRT’s net international reserves had decreased to $ 7.55 billion, the lowest level in 20 years, in mid-January due to foreign exchange interventions in the foreign exchange market and foreign exchange sales to SMEs, especially BOTAŞ.

Reserves subsequently recovered, limited by steps such as the sale of part of exporters’ foreign exchange income to the CBRT and KKM, but declined in seven of the eight weeks since April 15, recording a decline of about $ 11 billion.

Gross reserves decreased to $102.5 billion from $102.7 billion last week, while ret reserves excluding swaps changed to – 54 billion dollars from -52.8 billion.

SOURCE: sozcu.com.tr/2022/ekonomi/merkezin-net-rezervi-20-yilin-dibine-yaklasti-7197616