Turkish Central Bank Reserves Continue to Rise for Fifth Consecutive Week

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Steady Increase in CBRT Reserves Marks Fifth Consecutive Week

The Central Bank of the Republic of Turkey (CBRT) has reported a sustained upward trend in its reserve levels, marking the fifth consecutive week of growth. This positive development reflects strategic efforts to bolster the country’s financial stability and foreign exchange holdings.

According to the latest weekly monetary and banking statistics released by the CBRT, the bank’s gross foreign exchange reserves experienced an increase of 280 million US dollars. As of June 5, the total gross reserves reached an impressive 70 billion 306 million US dollars, up from 70 billion 26 million US dollars recorded on May 30.

In addition to foreign exchange reserves, the bank’s gold reserves saw significant growth, rising by 2 billion 409 million US dollars. This brought the total gold holdings to 85 billion 573 million US dollars, an increase from the previous week’s 83 billion 164 million US dollars. This surge underscores the bank’s strategic accumulation of precious metals as part of its reserve diversification approach.

Overall, the central bank’s total reserves experienced a weekly boost of 2 billion 689 million US dollars. The cumulative reserves climbed from 153 billion 190 million US dollars to an impressive 155 billion 879 million US dollars during the week ending June 5, reflecting ongoing efforts to strengthen Turkey’s financial position amidst global economic fluctuations.

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