Decline in Central Bank’s Foreign Reserves
The total reserves of the Central Bank decreased by $7.968 billion to $163.114 billion. In the same week, net foreign exchange reserves dropped by $11.8 billion.
The Central Bank of the Republic of Turkey (CBRT) released its weekly monetary and banking statistics. As of March 21, the Central Bank’s gross foreign reserves decreased by $9.741 billion to $88.328 billion.
Gross foreign reserves were at $98.069 billion on March 14.
Net foreign exchange reserves declined from $73.9 billion to $62.1 billion. Meanwhile, gold reserves increased by $772 million, rising from $74.013 billion to $74.785 billion.
Therefore, the total reserves of the Central Bank decreased from $171.082 billion to $163.114 billion in the week of March 21, with a decline of $7.968 billion compared to the previous week.
