Decline in Central Bank reserves

The total reserves of the Central Bank decreased by $2.25 billion in the week of April 4th. The Central Bank of the Republic of Turkey (CBRT) announced its weekly monetary and banking statistics. As of April 4th, the Central Bank’s gross foreign exchange reserves decreased by $2.771 billion to $77.838 billion. Gross foreign exchange reserves were at $80.609 billion on March 28th. Meanwhile, gold reserves increased by $520 million to rise from $75.902 billion to $76.422 billion. Consequently, the total reserves of the Central Bank declined from $156.511 billion to $154.261 billion, a decrease of $2.25 billion compared to the previous week.