Decline in Central Bank Reserves

The reserves of the Central Bank declined by $6.773 billion last week, dropping to $147.488 billion. The Central Bank of the Republic of Turkey (CBRT) released its weekly monetary and banking statistics. As of April 11th, the Central Bank’s gross foreign exchange reserves decreased by $9.831 billion to $68.7 billion. Gross foreign exchange reserves were at $77.838 billion on April 4th. Meanwhile, gold reserves increased by $3.060 billion, rising from $76.422 billion to $79.482 billion. Consequently, the total reserves of the Central Bank decreased from $154.261 billion to $147.488 billion, a decline of $6.773 billion compared to the previous week.