Tuesday, 02 January 2024 12:17 GMT

Türkiye’s Official International Reserves Surpass USD200B Threshold


(MENAFN) Türkiye’s central bank announced that its official international reserves surpassed $200 billion for the first time on January 16, marking a significant milestone in the country’s financial standing.

Figures released Thursday showed total reserves surged 4.6% in just one week, climbing by $9.1 billion to reach $205.2 billion, compared with $196.1 billion the previous week. Foreign currency reserves rose sharply, increasing 6.7% to $76.4 billion. Gold reserves, which include deposits and gold-swapped assets, advanced 3.7% to $121 billion over the same period.

Meanwhile, the bank reported that its IMF reserve position and special drawing rights edged down 0.2%, settling at $7.7 billion.

This record-breaking accumulation underscores Turkey’s aggressive push to strengthen its financial buffers, with both foreign currency and gold reserves driving the surge.

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