(MENAFN) Turkey's international reserves reached a new record of USD153.9 billion last week, reflecting a modest weekly increase of 0.07 percent, according to data released by the Central Bank on Thursday. This achievement marks a significant milestone in the country's efforts to strengthen its financial standing and enhance its economic resilience. The increase in reserves indicates effective management and strategic accumulation of financial resources by the Central Bank.

Within this total, approximately USD87.8 billion was held in foreign exchange, which saw a 0.3 percent rise over the same period. This uptick in foreign exchange reserves underscores the Central Bank's ongoing efforts to maintain robust liquidity and financial stability. The growth in foreign exchange reserves is a crucial component of the country's overall financial health, providing a buffer against economic uncertainties and enhancing investor confidence.

In contrast, gold reserves experienced a slight decrease, amounting to USD59.2 billion, down from USD59.4 billion. This minor reduction in gold reserves highlights the dynamic nature of the reserve composition, where fluctuations are managed to optimize the overall reserve portfolio. Despite this small dip in gold holdings, the total international reserves have shown a significant upward trend, reflecting strategic adjustments and effective resource management.

At the start of the year, Turkey's international reserves were around USD127 billion. However, they dipped below the USD100 billion mark in May before rebounding to the current record level. This volatility over the past months showcases the country's proactive measures to reinforce its economic stability and financial resilience. The substantial increase from May to the present level demonstrates the effectiveness of the Central Bank's policies and its commitment to strengthening the national economy amidst global economic challenges.

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