(MENAFN) Over the course of the previous week, the Turkish Central Bank recorded a noteworthy surge in its total international reserves, marking a substantial increase of USD4.7 billion compared to the previous period. This surge propelled the total reserves to USD139.12 billion, marking the highest level observed since January and signaling a notable strengthening of the country's reserve assets. The Central Bank's report revealed that foreign exchange reserves experienced a particularly significant rise, climbing by USD4.35 billion to reach USD78.55 billion. Additionally, gold reserves saw a notable increase of USD377 million, reaching USD60.6 billion during the same period.

This recent uptick in international reserves reflects a broader trend of consistent growth observed over the past seven months. During this period, reserves have seen a cumulative increase exceeding USD50 billion, underscoring ongoing efforts to fortify the country's financial stability and enhance its resilience in the face of potential external economic challenges.

The accumulation of international reserves serves as a critical component of Turkey's overall economic strategy, providing a buffer against external shocks and bolstering investor confidence. By maintaining ample reserve buffers, the Central Bank aims to mitigate risks associated with currency fluctuations, capital outflows, and other external vulnerabilities, thereby supporting monetary stability and economic growth.

It is worth mentioning that the robust position of international reserves at the end of last year stood at USD141 billion, reflecting the success of proactive measures taken to enhance the country's financial resilience. This positive trajectory underscores the Central Bank's commitment to prudent monetary management and its proactive approach to safeguarding the country's economic interests amidst evolving global dynamics.

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