Central Bank’s Reserves Decline

The reserves of the Central Bank decreased by 6 billion 603 million dollars in the week of March 28.
The Central Bank of the Republic of Turkey (CBRT) announced its weekly money and banking statistics. According to the data, as of March 28, the Central Bank’s gross foreign exchange reserves decreased by 7 billion 719 million dollars to 80 billion 609 million dollars.
The gross foreign exchange reserves were at 88 billion 328 million dollars on March 21. During this period, gold reserves increased by 1 billion 117 million dollars, rising from 74 billion 785 million dollars to 75 billion 902 million dollars. Thus, the total reserves of the Central Bank declined from 163 billion 114 million dollars to 156 billion 511 million dollars in the week of March 28, with a decrease of 6 billion 603 million dollars compared to the previous week.