The Central Bank of the Republic of Türkiye (CBRT) has seen a significant increase in its reserves, which have surged by nearly $40 billion since late June. This rise marks the highest level of reserves in about five months. According to recent estimates, the total reserves reached approximately $188.8 billion as of the week ending August 21, showing a $5.3 billion increase from the previous week’s $183.5 billion.
This rebound in the bank’s reserves comes after a substantial dip earlier this year. As of June 26, the reserves had fallen to around $149.2 billion. However, a recovery began shortly thereafter, with the reserves climbing to $164.4 billion by the end of July and continuing to rise through August.
The latest estimated growth in reserves brings them to about $39.6 billion above the June low, achieving the highest level since March 13. This trend indicates a robust recovery for Türkiye’s central bank reserves over the past few months.
Official figures for the reserves as of the week ending August 21 are anticipated to be released on Thursday, providing a clearer picture of the bank’s financial standing. This ongoing increase in reserves highlights a positive shift in Türkiye’s economic conditions as they recover from earlier downturns.