Central Bank’s Reserves Decline

The Central Bank of the Republic of Turkey (CBRT) has reported a decrease in its total reserves in the Weekly Money and Bank Statistics. According to the report, the Central Bank’s total reserves dropped by 517 million dollars in the week ending February 9, reaching a total of 134 billion 927 million dollars.

Specifically, gross foreign exchange reserves decreased by 172 million dollars, from 86 billion 538 million dollars to 86 billion 366 million dollars. Gold reserves also saw a decline, decreasing by 344 million dollars from 48 billion 905 million dollars to 48 billion 561 million dollars.

This news comes as a significant development for the Turkish economy and may have implications for the country’s financial outlook. It will be important to monitor how the Central Bank and the government address this decrease and work to stabilize and strengthen the country’s reserves in the future.

It’s important to note that this data is subject to change, and future reports from the CBRT will provide further insight into the state of Turkey’s reserves.

 

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